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Market Chatter: Activist Toms Capital Takes Major Stake in McCormick

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Activist hedge fund Toms Capital Investment Management has built a sizable stake in McCormick (MKC) as the US food company works on its planned acquisition of Unilever's (UL) food business, Reuters reported Friday, citing sources familiar with the matter.

The size of the stake, which Toms acquired in Q2, and what Toms intends to do with it, could not be determined, Reuters said.

Toms and McCormick didn't immediately reply to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $47.64, Change: $+0.81, Percent Change: +1.73%

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