Sunday 19 February 2017

Unilever Rejects Kraft Merger Offer

Unilever

Kraft Heinz said Friday it had made an offer to Dutch giant Unilever to merge both companies, creating a leading consumer goods company, but was rejected.

Despite being turned down, the US company would continue working towards a deal to combine both groups, it said in a statement filed with the London Stock Exchange.

“Kraft Heinz 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,” it said.

“While Unilever has declined the proposal, we look forward to working to reach agreement on the terms of a transaction,” Kraft Heinz said, adding however there was “no certainty” that there would be a further proposal.

Kraft Heinz is the fifth-biggest food and beverage company in the world and the third-biggest in North America. It this week reported sales of $6.86 billion for the fourth quarter ending 31 December.

Unilever, which had sales of 52.7 billion euros ($56.1 billion) in 2016, owns more than 400 brands including Lipton, Knorr, Dove and Omo. Its strategic focus is on sustainable growth which it calls “the only acceptable model for our business”.


SHARE THIS

Author:

Etiam at libero iaculis, mollis justo non, blandit augue. Vestibulum sit amet sodales est, a lacinia ex. Suspendisse vel enim sagittis, volutpat sem eget, condimentum sem.

0 comments: