Unilever Rejects $143 Billion Offer From Kraft Heinz
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Kraft Heinz Co.’s latest takeover aspirations have been thwarted, for now, as Unilever rejected a $143 billion proposal to combine the two consumer goods giants, a mega deal that would bring everything from Heinz ketchup and Kraft macaroni and cheese to Dove soap and Lipton tea under one international roof.
Kraft Heinz itself is the product of the major 2015 merger of Kraft Foods Group and H.J. Heinz, a deal pulled together by 3G Capital and Berkshire Hathaway.
Since then, Wall Street has been anticipating that Kraft Heinz, with the financial backing of 3G, would seek to grow its bottom line through massive cost cutting and its revenue through acquisitions. Until now, the prevailing thought was that Kraft Heinz, the world’s fifth-largest food and beverage company, would add more U.S. food makers to its portfolio. The most likely deal analysts have suggested is for Kraft Heinz to buy Mondelez International, which split from the Kraft Foods business in 2012. General Mills, among others, has surfaced in the past as a potential target for Kraft Heinz.
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