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Kraft Heinz steps back from its offer to buy Unilever

Staff Writer |
Unilever and Kraft Heinz announced that Kraft Heinz has amicably agreed to withdraw its proposal for a combination of the two companies.

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"Unilever and Kraft Heinz hold each other in high regard. Kraft Heinz has the utmost respect for the culture, strategy and leadership of Unilever," the two companies said.

Kraft Heinz made a $143 billion offer for Unilever in a bid to build a global consumer goods giant.

A combination would be the third-biggest takeover in history and the largest acquisition of a UK-based company, according to Thomson Reuters data, triggering British fears over jobs.

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