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- Ice cream company Ben & Jerry’s board members have appealed to prevent its parent company, Unilever PLC (NYSE:UL), from selling the assets to a local licensee in Israel, the Wall Street Journal reported.
- Ben & Jerry’s feels the asset transfer could lead to the brand’s products being used to oppose social issues it supports.
- Unilever announced the sale in June 2022 after coming under pressure over Ben & Jerry’s decision not to sell its products in Jewish settlements in the West Bank and parts of East Jerusalem.
- Related: Ben & Jerry's Sues Parent Unilever On Israeli business Sale: CNBC
- When Unilever acquired the ice cream brand two decades ago, its independent board formed a unique corporate governance arrangement to protect the brand’s image.
- The report noted Ben & Jerry’s board needed confirmation from the court that Unilever wouldn’t be able to change its social stances without its approval.
- Also Read: Ben & Jerry's Disagrees With Unilever Divesting Brand To Israel Local Licensee: FT
- Meanwhile, Unilever said the sale had already closed and that the members of Ben & Jerry’s board had demarcated rights that didn’t give them the power to sue the brand’s parent company.
- Price Action: UL shares are trading lower by 0.50% at $48.18 in premarket on the last check Tuesday.
- Photo Via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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