The collapse of Kraft Heinz Co.’s $143 billion bid to create a global food giant could be just the first step in a long campaign by Unilever Chief Executive Officer Paul Polman to keep investors on his side.
Having fended off the unsolicited approach after a 48-hour skirmish, Polman now has six months in which to demonstrate to shareholders that the owner of brands like Ben & Jerry’s ice cream and Dove soap is better off on its own. Once that window of protection provided by U.K. takeover rules expires, Unilever could face new proposals from Kraft Heinz.
