Last Friday, Kraft Heinz offered to buy Unilever for 50USD per share. Within 48 hours Heinz’s board decided to withdraw this bid as it faced a potential lengthy fight for Unilever.
The withdrawal made Unilever to start a review of the options available to accelerate delivery of value for the benefits of our shareholders. This review should be finished by April.
A merger of Heinz and Unilever would have created one of the largest companies when it comes to packaged foods and consumer goods, selling a wide range of items, including Heinz ketchup, Oscar Mayer meats, Ben & Jerry’s ice cream, Hellmann’s mayonnaise and Dove soap.
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