LONDON, Oct 2 (Reuters) - Columbia Threadneedle Investments has confirmed on Tuesday that it plans to vote against Unilever’s proposed move to the Netherlands, joining a chorus of shareholder disapproval of the move.
“We believe the Unilever restructuring is detrimental to UK Plc shareholders and we will be voting against the proposed resolution at the Unilever EGM on 26 October 2018,” Iain Richards, head of responsible investment at Columbia Threadneedle said in a statement.
The asset manager had previously criticised the move, but had not specified which way it planned to vote.
Columbia Threadneedle is Unilever’s seventh-largest shareholder, with an 1.18 percent stake, according to Refinitiv data.
Reporting by Martinne Geller