Unilever's (UL) bankers have urged its board of directors to pursue an agreement to purchase consumer goods firm Colgate-Palmolive (CL) Company, StreetInsider reports.

It remains unclear if Unilever will act on the suggestion, or whether they have or plan to engage in talks with Colgate-Palmolive in the short-term.

But, the Dutch-British transnational consumer goods company has reportedly held discussions with bankers that pointed out three primary factors that could influence the timing of its decision. These include the weakness in Colgate's shares, strength in the British pound and Unilever's stock performance.

Shares of Unilever have surged over 40% year-to-date, while Colgate's stock has remained positive as well for the year, up about 11%.

Unilever re-examined its business strategy after a failed attempt to acquire Kraft-Heinz Co  (KHC) in February. 

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