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Kraft Heinz Co. has withdrawn its $143 billion offer for Unilever PLC after the Anglo-Dutch CEO warned board members and investors against the deal.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.
Unilever (EU:UNA)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Unilever Charts.
Unilever (EU:UNA)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Unilever Charts.