EU objects to Unilever purchase

The EU could scupper Unilever’s purchase of parts of Sara Lee’s European business, after its anti-trust agency filed a formal objection to the €1.3bn (£1.07bn) acquisition yesterday. The company said yesterday it hopes to come to a “positive agreement” by the end of the year, allowing the takeover of Sara Lee’s shower-gel and detergent businesses. The EU contends that the move would create significant overlaps with Unilever’s existing operations.