Unilever rejects merger proposal from goods giant Kraft Heinz
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17 February 2017 19:33:51 timesofmalta.com
Consumer goods giant Unilever has rebuffed a proposed mega-merger with global food firm Kraft Heinz. The company behind Heinz Tomato Ketchup and Philadelphia cheese said it had made a "comprehensive proposal" about combining the two companies, but Unilever turned the offer down. In an announcement, Kraft Heinz said: "While Unilever has declined the proposal, we look forward to working to reach agreement on the terms of a transaction." "There can be no certainty that any further formal proposal will be made to the board of Unilever or that an offer will be made at all or as to the terms of any transaction." Unilever, which owns Dove, Ben & Jerry's ice cream and Domestos, saw its share price rocket 12 per cent in London on news of the approach. The Anglo-Dutch firm said the offer represented a premium of 18 per send of its closing share price on February 16, valuing the company at €134 billion. Steve Clayton, fund manager at Hargreaves Lansdown, said such a move would create enormous cost savings. "Putting portfolios of brands together can create huge synergies across marketing, manufacturing and distribution, even before you think about cutting the combined HQ back to... Full article on Unilever rejects merger proposal from goods giant Kraft Heinz
All News 17 February 2017 19:33:51
2.9156654 20 February 2017 02:03:39 WN.com - World News
US-based Kraft had made a surprise offer for Unilever in a bid to build a global consumer goods behemoth, although it was flatly rejected on Friday by Unilever, the maker of Lipton tea and Dove soap. ......
All News 20 February 2017 02:03:39
2.8428147 19 February 2017 23:33:20 WN.com - World News
Two days into its public courtship of Unilever, Kraft Heinz is walking away. ......
All News 19 February 2017 23:33:20
2.6692433 19 February 2017 21:35:38 Latest News - UPI.com
Allen Cone Feb. 19 (UPI) -- Kraft Heinz withdrew its $143 billion proposal to acquire Unilever, the two consumer food companies announced Sunday.
All News 19 February 2017 21:35:38
2.6692433 19 February 2017 21:32:28 WN.com - World News
Ketchup maker and packaged food giant Kraft Heinz has withdrawn a $143 billion offer to buy Unilever, backing away after the mayonnaise, tea and seasonings maker rejected the bid as too low. The companies announced the decision Sunday in a joint press release, saying that Kraft Heinz has "amicably"... ......
All News 19 February 2017 21:32:28
2.6692433 19 February 2017 20:32:17 WN.com - World News
Kraft Heinz has decided to withdraw its $143 billion offer to buy mayonnaise, tea and seasonings maker Unilever. ......
All News 19 February 2017 20:32:17
2.1116326 19 February 2017 19:01:31 WN.com - World News
Kraft Heinz "amicably" agrees to withdraw plans to merge with Anglo-Dutch...
All News 19 February 2017 19:01:31
2.0723636 18 February 2017 14:24:22 WN.com - World News
NEW YORK (AP) — Kraft Heinz's $143 billion offer to buy Unilever was spurned, but the ketchup, cheese and lunch meat maker is still hungry to expand its domain. ......
All News 18 February 2017 14:24:22
2.0723636 18 February 2017 07:53:33 WN.com - World News
Kraft Heinz's $143 billion offer to buy Unilever was spurned, but the ketchup, cheese and lunch meat maker is still hungry to expand its domain. ......
All News 18 February 2017 07:53:33
1.7763116 18 February 2017 07:23:34 WN.com - World News
NEW YORK (AP) — Kraft Heinz's $143 billion offer to buy Unilever was spurned, but the ketchup, cheese and lunch meat maker is still hungry to expand its domain. Unilever, which make mayonnaise, tea and seasonings, said the offered price was too low. Kraft said it's still interested in a deal. If Unilever proves a resistant target, analysts said the company may look elsewhere. J.P. Morgan analyst Ken Goldman said he always believed Kraft Heinz, itself formed from two century-old businesses in 2015, would "mostly be used as a vehicle to buy and operate" food brands. Given Unilever's stable of personal care...
All News 18 February 2017 07:23:34
1.7763116 17 February 2017 20:50:15 WN.com - World News
U.S. food giants Kraft Heinz is in talks to buy Europe's Unilever. ......
All News 17 February 2017 20:50:15