Unilever rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co on Friday, saying it saw no reason to discuss a deal it said had no financial or strategic merit.
[img alt=FILE - A Ghadr-F missile is displayed next to a portrait of Iranian Supreme Leader Ayatollah Ali Khamenei at a Revolutionary Guard hardware exhibition marking the 36th anniversary of outset of Iran-Iraq war, at Baharestan Sq. in downtown Tehran, Iran, Sunday, Sept. 25, 2016.]http://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAn7QJ1.img?h=75&w=100&m=6&q=60&u=t&o=t&l=f[/img] Iran test launches 'advanced' rockets Unilever rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co on Friday, saying it saw no reason to discuss a deal it said had no financial or strategic merit.
Quotes in the article Unilever PLC UL â–² 48.53 +5.96 +14.00% Thomson Reuters Corp TRI â–² 44.94 +0.05 +0.11% Berkshire Hathaway Inc BRK.B â–² 168.57 +0.83 +0.49% But while Unilever, the maker of Lipton tea and Dove soap, said the $50-per-share offer undervalued it and recommended its shareholders take no action, Kraft Heinz said it looked forward to "working to reach agreement on the terms of a transaction."
Analysts saw this as a sign Kraft was open to a higher bid, although the Anglo-Dutch company said in a statement it saw no basis for further talks. Unilever shares jumped as much as 14 percent to a record high. They were up 13 percent at 37.79 pounds ($46.92) at 1338 GMT, short of the offer price.
A combination of the two multinationals would be the third-biggest takeover in history and the biggest ever acquisition of a UK-based company, according to Thomson Reuters data.