Kraft Drops Unilever Bid
February 19 2017 - 01:39PM
Dow Jones News
Staff
Kraft Heinz Co. has withdrawn its $143 billion offer for
Unilever PLC after the Anglo-Dutch CEO warned board members and
investors against the deal.
Unilever Chief Executive Paul Polman said that Kraft's
cost-cutting ethos could damage Unilever brands and highlighted its
lack of experience in personal-care and household goods, according
to people familiar with the matter.
Price remained the biggest factor, after Unilever management
rejected the $50-a-share cash-and-stock offer outright Friday.
(END) Dow Jones Newswires
February 19, 2017 13:24 ET (18:24 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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