Kraft Heinz Hungers for a Deal to Beef Up Growth Prospects, but Unilever Rebuffs Its Advance
Contrary to our belief it remained laser-focused on extracting costs (after bumping up its target to $1.7 billion from $1.5 billion on Feb. 15), narrow-moat Kraft Heinz confirmed on Feb. 17 it approached wide-moat Unilever about a potential tie-up. The initial proposal amounted to $50 per share ($156 billion on an enterprise basis, or around 17-18 trailing EBITDA) and consisted of $30.23 in cash and 0.222 in shares. While the offer represented an 18% premium to Unilever’s stock price prior to th...Unilever is engaged in the supply of consumer goods in foods, household care and personal products. Co.'s activities are carried out through four categories: Personal Care, sales of skin care and hair care products, deodorants and oral care products; Home Care, sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products; Foods, sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; and Refreshment, sales of ice cream and tea-based beverages. Co.'s products are sold in over 190 countries around the world.
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