POST Online Media Lite Edition


Out of the blue: Kraft Heinz offers $143 billion for Unilever

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

Article continues below

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.

It would bring together some of the world's best known brands, from toothpaste to ice creams, and combine Kraft's strength in the U.S. with Unilever's in Europe and Asia.

Although Kraft said it looked forward to talking terms, Unilever said it saw no reason to discuss a deal without financial or strategic merit.

Kraft has until March 17 to make a final bid for Unilever under UK takeover rules.

Unilever said Kraft's proposal included $30.23 per share in cash, payable in U.S. dollars, and 0.222 of a share in a new enlarged entity per Unilever share and represented an 18 percent premium to its share price on Thursday.

What to read next

Kraft Heinz cuts 700 jobs, 2,500 will leave in total
Deal reached to save Kraft-Heinz facilities and 1,000 jobs in New York
H.J. Heinz gets Canada's green light for Kraft Foods merger