The surprise $143bn takeover bid has been withdrawn after a cold shoulder from Unilever.
Editor’s Remarks: After American food titan The Kraft Heinz Company launched the offer for Anglo-Dutch Unilever, the European consumer goods behemoth locked horns with its transatlantic suitor: Unilever CEO Paul Polman quickly dismissed the offer, saying it had no strategic or financial merit. Kraft’s failure to appreciate that their offer would be taken as hostile has been blamed for the collapse by insiders. The managerial decision-making behind the move appears particularly called into question by how quick Kraft’s backers, including Warren Buffet’s Berkshire Hathaway and private equity giant 3G Capital, were to back off.
What to watch: The Kraft Heinz Company, Unilever, Berkshire Hathaway, 3G Capital