Kraft Heinz Withdraws Its Takeover Offer Of Unilever After 'Interest Was Made Public'

By Donna Ahern
Kraft Heinz Withdraws Its Takeover Offer Of Unilever After 'Interest Was Made Public'

Kraft Heinz has withdrawn its acquistion offer of $143 billion of Unilever only two days after its expression of interest was made public.

The Warren Buffett-backed food group said in a statement that its 'interest was made public at an extremely early stage. Our intention was to proceed on a friendly basis, but it was made clear Unilever did not wish to pursue a transaction', according to Irishtimes.ie

Kraft Heinz's takeover of Unilever would have created the world's second largest consumer goods group, after Nestlé.

Kraft Heinz added in its statement: “It is best to step away early so both companies can focus on their own independent plans to generate value. We remain focused on driving long-term value while always putting our consumers first.”

Kraft Heinz employs approximately 2,500 people across Ireland and the UK.

© 2017 - Checkout Magazine by Donna Ahern

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