Kraft Heinz Co's rapid retreat from its surprise $143 billion bid for Unilever in the face of stiff resistance knocked the Anglo-Dutch company's shares on Monday as investors assessed the impact of the failed approach.
Unilever rejected a surprise $143 billion takeover bid from U.S. food company Kraft Heinz Co on Friday, saying it saw no reason to discuss a deal which it said had no financial or strategic merit.
On June 27, 2016, a federal judge denied Kraft Foods Group Inc.’s (“Kraft”) motion to dismiss a proposed class action against the company for allegedly manipulating the wheat futures market.[1]
Option traders were clearly not set-up for a more than 30% surge in shares of Kraft (Ticker: KRFT) following a deal to merge the company with Heinz (Ticker: HNZ) to create The Kraft Heinz Co. On Tuesday, shares in Kraft closed at $61.33.
