Could Flora be toast?

UNILEVER is drawing up plans to offload its Flora and Stork spreads business to fend off another takeover approach.

It is understood the AngloDutch consumer goods giant behind brands such as Marmite, Dove and Colman’s mustard, is considering a £6bn sale of the underperforming division.

Last month it braced the markets for cost- cutting – but did not say which parts of the business faced the knife.

It came after US rival Kraft Heinz offered to pay £115bn for the whole company – but was swiftly knocked back by chief executive Paul Polman, 56. Kraft could try to swoop on the spreads business, which may also appeal to private equity firms.

The takeover approach spurred Polman to ask whether the Government should do more to stop ‘national champions’ being taken over, and prompted former City minister Paul Myners to attack Britain’s takeover rules.

He described them in the Sunday Telegraph as ‘the most permissive in the world’, adding: ‘They do nothing to discourage the likes of Kraft Heinz seeking to buy businesses to turn a profit.’

Unilever declined to comment.