Kraft Heinz’s Rapid Retreat From Unilever Bid

 

 

US company Kraft Heinz's rapid retreat from its surprise bid for Unilever sent the Anglo-Dutch group's shares down over seven percent on Monday in London and Amsterdam. They had jumped 13 percent when the offer became public on Friday, but over the weekend the Americans said they were pulling out in the face of stiff resistance. The weaker pound since the Brexit vote made the takeover more attractive but the British government recently signalled it would look closely at foreign takeovers especially if job losses were expected.