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Marmite owner Unilever rejects Kraft takeover bid
Topic Started: Feb 17 2017, 09:41 AM (141 Views)
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http://www.bbc.com/news/business-39006302
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US food giant Kraft Heinz has said Unilever, which makes goods from Marmite to PG Tips, has rejected its takeover offer.

But Kraft, whose brands include Heinz ketchup, indicated it would continue working towards striking a deal.

Shares in Unilever, which is listed on the UK's 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".

"While Unilever has declined the proposal, we look forward to working to reach agreement on the terms of a transaction," the company added.
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