Friday, February 17, 2017

3G makes bid for Unilever

3G Group of Brazil, which controls Kraft-Heinz and Tim Horton’s, has made a bid for Unilever, one of the world’s largest food companies headquartered in the Netherlands.

But Unilever says there is no merit in the proposal and rejected the offer worth $143 billion US.

Unilever said it had received an offer of $50 per share, made up of $30.23 in cash and the remainder in stock in the new group, representing a premium of 18 per cent.

“This fundamentally undervalues Unilever,” it said today.