Kraft Heinz Withdraws $143-Billion Takeover Offer for Unilever
the scenes about Kraft’s cost-cutting model and its lack of vision for cultivating brands, people familiar with the situation said. Shares of Unilever jumped 13% to close Friday at a record 4 4 .8 0 eu r os ( $ 47. 57 ) i n Amsterdam. Kraft Hei n z , b a s e d in Pittsburgh and Chicago, climbed 11% to a record in New York trading.
The proposed deal, which would have been the largest-ever takeover in the food or beverage industry, would have created a company with combined sales of $84.8 billion last year, second only to Nestle SA.
The proposed deal would have created a company with combined sales of $84.8 billion, second only to Nestle SA