TOP NEWS: Unilever Declines Merger Proposal From Kraft Heinz

LONDON (Alliance News) - Unilever PLC has declined an initial offer from US rival Kraft Heinz Co ...

Alliance News 17 February, 2017 | 12:19PM
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LONDON (Alliance News) - Unilever PLC has declined an initial offer from US rival Kraft Heinz Co over a potential combination of the two groups, Kraft Heinz said Friday.

American food giant Kraft Heinz said it made a comprehensive proposal to Anglo-Dutch consumer goods firm Unilever but the proposal was declined, and there can be no certainty any further formal proposal will be made or that an offer will be made.

Kraft said it looks forward to working to reaching agreement on the terms of the transaction, though, and said combining the two groups will create a "leading consumer goods company with a mission of long-term growth and sustainable living".

Shares in Unilever were up 11% at 3,722.00 pence on Friday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Unilever PLC 3,756.00 GBX -0.92
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