EU sets Oct. 22 deadline for Unilever/Sara Lee deal

BRUSSELS, Aug 27 (BestGrowthStock) – European Union competition
regulators have set a new deadline of Oct. 22 to decide whether
to clear Unilever’s (ULVR.L: ) $1.3 billion purchase of Sara Lee
Corp’s (SLE.N: ) body care business, the European Commission said
on Friday.

In June, the Commission, the competition authority in the
27-country European Union, had set an Oct. 5 deadline after
launching an in-depth probe into the deal. A Commission
spokeswoman declined to comment on the case.

Anglo-Dutch consumer goods giant Unilever (UNc.AS: ), which
makes Ben & Jerry’s ice cream, Knorr soup and Dove soap, said
the extended deadline would help it address any remaining issues
with the Commission.

“We still expect to complete the deal during the fourth
quarter of 2010,” Unilever said in a statement.

The EU executive had said it was concerned about potential
competition issues in several product markets such as
deodorants, skin cleansing and fabric care products.
(Reporting by Foo Yun Chee)

EU sets Oct. 22 deadline for Unilever/Sara Lee deal