Kraft Heinz With­draws $143-Bil­lion Takeover Of­fer for Unilever

The Economic Times - - Around The World -

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

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