Kraft Merger Bid 'fundamentally Undervalues' Firm: Unilever
Rukhshan Mir (@rukhshanmir) Published February 17, 2017 | 06:55 PM
THE HAGUE, , (APP - UrduPoint / Pakistan Point News - 17th Feb, 2017 ) - An offer by giant US food and beverage company Kraft Heinz to merge with Unilever was snubbed because it "fundamentally undervalues" its Dutch rival, Unilever said Friday.
The Rotterdam-based group said the Kraft offer represented an 18% premium over the share price at close on Thursday.
"This fundamentally undervalues Unilever," it said in a statement, adding it had "no merit, either financial or strategic, for Unilever's shareholders. Unilever does not see the basis for any further discussions."
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