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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Unilever Plc | LSE:ULVR | London | Ordinary Share | GB00B10RZP78 | ORD 3 1/9P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.00 | 0.05% | 3,863.00 | 3,859.00 | 3,860.00 | 3,887.00 | 3,850.00 | 3,866.00 | 4,313,064 | 16:35:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Perfume,cosmetic,toilet Prep | 59.6B | 6.49B | 2.5958 | 14.87 | 96.46B |
LONDON -- Kraft Heinz Co. dropped its $143-billion offer for rival Unilever PLC, just a little more than 48 hours after making an audacious bid to combine two of the world's biggest packaged-food companies.
In a brief statement Sunday, Kraft said it "has amicably agreed to withdraw its proposal."
A Kraft spokesman said the company's intention was to proceed on a friendly basis, and that its interest was made public at "an extremely early stage." After Unilever made clear it didn't want to pursue a tie-up, the spokesman said, "it was best to step away early so both companies can focus on their own independent plans to generate value."
The U-turn is a big victory for Unilever Chief Executive Paul Polman, who was digging in over the weekend to resist the unsolicited offer. The deal faced steep hurdles from the start -- first among them a determination by Unilever's board and management that the 18% premium Kraft offered to the company's value was inadequate.
Mr. Polman was ramping up a defense, telling board members and investors that Kraft's cost-cutting ethos could damage Unilever brands and highlighting its lack of experience in personal-care and household goods, according to people familiar with the matter.
(END) Dow Jones Newswires
February 19, 2017 13:58 ET (18:58 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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