Kraft Heinz Withdraws $143 Billion Offer to Merge With Unilever -<br />LONDON — Kraft Heinz has withdrawn its $143 billion proposal to create a consumer goods giant by combining with Unilever, the companies said Sunday.<br />“Our intention was to proceed on a friendly basis, but it was made clear Unilever did not wish to pursue a transaction.”<br />“It is best to step away early so both companies can focus on their own independent plans to generate value,” he added.<br />The withdrawal came two days after Kraft Heinz announced<br />that it had made a surprise offer to acquire Unilever, the maker of Dove soap and Axe body spray, Ben & Jerry’s ice cream and Hellmann’s mayonnaise.<br />Unilever said on Friday that the offer — an 18 percent premium to its closing<br />price on Thursday — “fundamentally undervalues” the British-Dutch company.<br />“Kraft Heinz has the utmost respect for the culture, strategy and leadership of Unilever.”<br />But Michael Mullen, a Kraft Heinz spokesman, offered more detail on why the company had stepped away so soon from its bid.
