Kraft Heinz Withdraws $143 Billion Offer For Unilever, After Warren Buffett Got Cold Feet
Last week's mega-merger announcement, the deliberately leaked acquisition of Unilever by the Warren Buffett-backed Kraft Heinz - a deal which would create a giant consumer goods conglomerate - has fallen apart, following Unilever's adverse reaction to the deal, and speculation that Kraft would not pursue a hostile transaction. As the FT reports, Kraft Heinz withdrew its $143bn pursuit of consumer products rival Unilever only two days after it publicly confirmed its interest in acquiring the Anglo-Dutch company.