Feb 17, 2017

Marmite owner Unilever rejects Kraft takeover bid

Shares in Unilever, which is listed on the UK FTSE 100 stock index, have surged more than 11%. The deal would be one of the biggest in corporate history, with Unilever currently valued at more than £100bn. Kraft said in a statement that it had made "a comprehensive proposal" for Unilever to create a "Leading consumer goods company". Anglo-Dutch giant Unilever also makes Ben & Jerry's ice cream, Dove soap, Domestos cleaning products and Hellmann's mayonnaise. "Unilever rejected the proposal, which was rumoured to be around £40 a share - a premium of just shy of 20% on the opening price this morning," said Nicholas Hyett, equity analyst at Hargreaves Lansdown. "With Kraft Heinz saying it'll be coming back to the table, it looks like the initial offer was just to test the water," he added.

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