Unilever Has Rejected a Giant Merger Deal With Kraft-Heinz, but Kraft Won’t Back Down

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Unilever rejected a $143 billion business deal with Kraft, which would have made it one of the biggest mergers ever

The giant merger would have put more than 600 iconic brands under one corporate umbrella.

Two of the largest food companies in the world narrowly missed becoming one giant corporation this week. Unilever has rejected a $143 billion dollar merger offer from Kraft-Heinz, which would have been one of the largest mergers in corporate American history. Unilever told press that the deal would “fundamentally undervalue” the worth of the international company.

"Unilever rejected the proposal as it sees no merit, either financial or strategic, for Unilever's shareholders,” the statement said. Unilever does not see the basis for any further discussions.”

However, Kraft-Heinz is not giving up so easily:

"While Unilever has declined the proposal, we look forward to working to reach agreement on the terms of a transaction," Kraft-Heinz said in a statement. “There can be no certainty that any further formal proposal will be made to the Board of Unilever or that an offer will be made at all."

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If the deal were to happen, beloved brands like Unilever’s Hellmann’s mayonnaise, Ben & Jerry’s, and Lipton, would be in the same portfolio as Kraft-Heinz’s Easy Mac, Heinz ketchup, and Jell-O.