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Kraft Heinz walks away from Bid to buy Food Giant Unilever!

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American food giant Kraft Heinz withdrew its surprise offer $143 billion bid to buy Anglo-Dutch global consumer products company and maker of Lipton tea and Dove soap; Unilever 48 hours after making it public.

Although this bid could have easily resulted in the world’s largest food company it was quickly rejected by Unilever.
Kraft withdrew its offer because it felt it was too difficult to negotiate a deal following the public disclosure of its bid so soon after its approach to Unilever, according to people familiar with the matter who requested anonymity to discuss confidential deliberations.

“Our intention was to proceed on a friendly basis, but it was made clear Unilever did not wish to pursue a transaction. It is best to step away early so both companies can focus on their own independent plans to generate value.”

Michael Mullen, Kraft Heinz spokesman

Source: Reuters.com
Image: Getty Images

4 Comments

  1. nunulicious

    February 23, 2017 at 5:57 am

    Interesting. This deal was mentioned in the Harvard Africa Conference last week about how the two companies would successfully merge given their perspective on shared value. I wonder what really went down.

  2. Vanessa

    February 23, 2017 at 9:54 am

    I get the feeling Unilever wants to be the sole company that manufactures almost everything that any household needs, cereals, margarine, soap, detergents, beauty products, stock cubes, mouthwash, toothpaste, soup powder, body lotions, you name it they manufacture. The only thing they can’t manufacture is a human being. Just saying.

  3. Anon

    February 23, 2017 at 12:12 pm

    Kraft bought Cadbury and ruined it. Surely, Unilever did not want the same to happen to them.

    “Krafty” asset stripping company.

  4. Nyc

    February 23, 2017 at 9:58 pm

    Kraft Heinz and their blood ketchup..pls unilever can’t you continue operating..we need Anglo and Euro companies that sell healthy and decent food not American stroke S,African Co that’s sells crap to capitalize on people and causing I’ll health.

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