Kraft Heinz has decided to withdraw its $143-billion offer to buy Unilever, the companies announced Sunday in a joint news release.
Unilever — which has a head office in London and makes mayonnaise, tea and seasonings — earlier had spurned the offer, saying the price was too low.
Despite rejection, Kraft Heinz said last week it was still interested in the deal.
Analysts say Kraft Heinz — which makes ketchup, cheese and lunch meat and is co-headquartered in Chicago and Pittsburgh — is still in the market for acquisitions.
The deal would have brought together Kraft Heinz brands such as Oscar Mayer, Jell-O and Velveeta and Unilever's Hellman's, Lipton and Knorr. The combined company would have rivaled Nestle as the world's biggest packaged food maker by sales.
An overflowing dam threatens homes in Northern California, Adele's big night at the Grammys, Trump's national security advisor Michael Flynn resigns, Federal officials say they haven't broadened the scope of immigration enforcement raids, Enrique Marquez Jr. didn't take part in the San Bernardino shooting on Dec. 2, 2015.,Russia denies that intelligence agents were in contact with Trump's campaign team, and when the pastor at a Texas church urged his congregation to embrace refugees, 300 members left.
An overflowing dam threatens homes in Northern California, Adele's big night at the Grammys, Trump's national security advisor Michael Flynn resigns, Federal officials say they haven't broadened the scope of immigration enforcement raids, Enrique Marquez Jr. didn't take part in the San Bernardino shooting on Dec. 2, 2015.,Russia denies that intelligence agents were in contact with Trump's campaign team, and when the pastor at a Texas church urged his congregation to embrace refugees, 300 members left.
An overflowing dam threatens homes in Northern California, Adele's big night at the Grammys, Trump's national security advisor Michael Flynn resigns, Federal officials say they haven't broadened the scope of immigration enforcement raids, Enrique Marquez Jr. didn't take part in the San Bernardino shooting on Dec. 2, 2015.,Russia denies that intelligence agents were in contact with Trump's campaign team, and when the pastor at a Texas church urged his congregation to embrace refugees, 300 members left.
An overflowing dam threatens homes in Northern California, Adele's big night at the Grammys, Trump's national security advisor Michael Flynn resigns, Federal officials say they haven't broadened the scope of immigration enforcement raids, Enrique Marquez Jr. didn't take part in the San Bernardino shooting on Dec. 2, 2015.,Russia denies that intelligence agents were in contact with Trump's campaign team, and when the pastor at a Texas church urged his congregation to embrace refugees, 300 members left.
Surveillance video footage shows the moment a hillside in the San Bernardino County mountains crumbles, sending rocks and snow into a drainage area below.
Surveillance video footage shows the moment a hillside in the San Bernardino County mountains crumbles, sending rocks and snow into a drainage area below.
Alhambra Resident Sergio Aguierre talks about a tree that fell and smashed into power lines on Jackson Avenue during the storm Friday.
Alhambra Resident Sergio Aguierre talks about a tree that fell and smashed into power lines on Jackson Avenue during the storm Friday.
A storm that officials said could be the strongest in years moved into Southern California on Friday.
A storm that officials said could be the strongest in years moved into Southern California on Friday.
At a press conference, President Trump shrugged off a rocky start. An executive order has been drafted to end protection for 'Dreamers,' who were brought to the U.S. illegally as children. New York real estate scion Robert Durst confessed to killing a writer, a witness said in court. The Governors Ball after the Oscars will be decked out for the stars.
At a press conference, President Trump shrugged off a rocky start. An executive order has been drafted to end protection for 'Dreamers,' who were brought to the U.S. illegally as children. New York real estate scion Robert Durst confessed to killing a writer, a witness said in court. The Governors Ball after the Oscars will be decked out for the stars.
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