Feb 22, 2017
Unilever to review business following Kraft Heinz bid
Unilever has promised to boost profits and conduct a root-and-branch review of its business that could lead to asset sales just days after an aborted $143bn takeover approach from Kraft Heinz, the US food group backed by 3G Capital and Warren Buffett. Unilever is under pressure to speed up returns to shareholders following the bid from Kraft Heinz, which has raised questions about the consumer products group's structure and profitability. Unilever's profit margins are half those of Kraft Heinz, suggesting that the business could be run more efficiently. Some analysts suggest that Kraft Heinz could still acquire at least some of the Unilever business. Jasper Lawler, analyst at London Capital Group, said: "A future Kraft takeover of part of the Unilever business, perhaps part of its foods division, is still possible."
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