Busi­ness

The Washington Post Sunday - - TAKING STOCK -

Kraft Heinz, the maker of Velveeta, Kool-Aid and Grey Poupon, made an of­fer to buy Unilever for $143 bil­lion in what could be the largest food and bev­er­age deal of all time. Unilever, how­ever, said it isn’t in­ter­ested in the $50-per-share deal, which rep­re­sented an 18 per­cent pre­mium on Thurs­day’s share price. The Bri­tish-Dutch com­pany, which has 400 brands in­clud­ing Hell­man’s, Ben & Jerry’s and Vase­line, said it “re­jected the pro­posal as it sees no merit, ei­ther fi­nan­cial or strate­gic, for Unilever’s share­hold­ers.” An­a­lysts ex­pect Kraft to sweeten its of­fer. Toshiba’s chaos deep­ened, as the Ja­panese cor­po­rate gi­ant’s chair­man re­signed and the com­pany said it would book a $6.3 bil­lion loss re­lated to its U.S. nu­clear busi­ness. An­a­lysts are spec­u­lat­ing that Toshiba, which em­ploys al­most 200,000 peo­ple in Ja­pan and has sig­nif­i­cant in­vest­ments in the United States, may have to file for bank­ruptcy. Boe­ing work­ers at a plant in South Carolina voted against union­iz­ing, per­haps the most im­por­tant trial of unions’ in­flu­ence since Pres­i­dent Trump’s elec­tion win. Af­ter years of bit­ter cam­paign­ing, the In­ter­na­tional As­so­ci­a­tion of Ma­chin­ists failed to sway the fac­tory’s 3,000 work­ers to or­ga­nize; 74 per­cent voted against. Amer­i­can Air­lines pi­lot union lead­ers voted no con­fi­dence in chief ex­ec­u­tive Doug Parker, cit­ing pay and sched­ul­ing is­sues, de­lays in im­ple­ment­ing their full con­tract and a “toxic” com­pany cul­ture. Pi­lots and man­age­ment have been at odds over Parker’s re­fusal last year to con­sider a pay raise af­ter avi­a­tors at Delta and United air­lines in­creased pay.

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