Deals
Kraft Heinz Takeover Bid Shakes Up Big Food and Its Slow Growth
- U.S. food companies were rumored to be target of offer
- Unilever turns down $143 billion, $50-a-share purchase
Why Kraft Pulled Its $143 Billion Unilever Bid
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Competitors relieved that Kraft Heinz Co. snubbed them for Unilever may want to skip the celebration.
Campbell Soup Co., General Mills Inc., Kellogg Co. and Mondelez International Inc. were top potential acquisition targets for Kraft Heinz, and even though the company appears to have moved on, more consolidation could be on the menu. Whether or not the maker of Kraft Mac & Cheese can persuade Unilever to form the world’s second-biggest food company, struggling U.S. giants still face pressure to break their years-long sales malaise.