News and Notes from the City of Coralville, February 16, 2017
Zenergi Hot Yoga

Unilever Has Rejected a $143 Billion Merger Bid From Kraft Heinz | Fortune.com

Kraft Heinz Co (khc, +0.66%) has proposed a $143 billion offer with Unilever in what would be one of the biggest deals ever, but the Anglo-Dutch consumer goods company has declined.

A deal with Unilever, which had a market value of $125 billion before its shares spiked, would add Hellmann's mayonnaise, Ben & Jerry's ice cream and Knorr soups to a portfolio that includes Heinz ketchup and Kraft Macaroni and Cheese.

"Kraft confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a mission of long-term growth and sustainable living," Kraft said in a statement.

Unilever said the offer of $50 a share, made up of $30.23 in cash and the rest in stock, "fundamentally undervalues" it.

via fortune.com

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)