A failed mega merger – Kraft Heinz move for Unilever fizzles out
What would have been the biggest food merger fell through before it had even properly started in February 2017. Kraft Heinz withdrew its US$143 billion bid for Unilever, with the company blaming the withdrawal on early deal leaks that thwarted efforts to negotiate on a friendly basis. As 2017 draws to a close, Unilever has agreed to sell its struggling Spreads business to the private equity firm KKR as it looks to focus its strategy. Although one mega merger didn’t happen, at around the same time we did see Reckitt Benckiser swoop for Mead Johnson in a US$16.6 billion deal.