Feb 17, 2017
MPs hit out at Kraft Heinz approach for Unilever
British politicians have warned that Kraft Heinz's $143bn takeover approach for Unilever threatens to rob the UK of one of its best-known companies. In the latest sign that overseas corporate raiders are benefiting from the post-Brexit slump in sterling, MPs on Friday hit out over "Fire sales" of British businesses that would undermine the government's fledgling industrial policy. Kraft Heinz's approach for Unilever is the latest in a series of cross-border deals seemingly based on the UK's weakened currency or weakened trading relationships after the June referendum. "An approach for Unilever is a sure sign of the surge in dollar buying power and the decline in sterling," said Neil Shah, director of research at Edison Investment Research. Mr Cable said there were mechanisms that the government could use to prevent any deal against the national interest - noting that a potential purchase of Unilever was "Even bigger than Pfizer-AstraZeneca in terms of scope, and we managed to see that one off".
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