Update: Unilever shares slide after Kraft Heinz withdraws £115bn bid

After Unilever rejected offer

Laura Dew
clock • 2 min read

Unilever shares are falling this morning after Kraft Heinz has agreed to walk away from its £115bn ($143bn) bid for the consumer goods giant, which rejected the offer on Friday.

Shares in Unilever closed Friday 13.9% higher at £37.97, after the firm announced it had rejected a takeover bid from US food giant Kraft Heinz. However, the stock is trading 7.6% lower this morning at £35.09, after Kraft publicly revoked its bid in a statement.  Kraft Heinz, which owns brands such as Heinz ketchup, Philadelphia cheese and Capri-Sun drinks, is believed to have targeted Unilever to grow a "leading consumer goods business". However, Unilever, which is a staple of many fund managers' portfolios (including Nick Train's £3.2bn Lindsell Train UK Equity fund), rejected th...

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