Unilever rejects Kraft Heinz takeover bid, shares spike

Posted February 18, 2017

Covering research analysts have taken a stance on where they see Kraft Heinz Co (NASDAQ:KHC) moving in the future.

The Share Centre's Ian Forrest thinks Kraft Heinz's decision to pounce on Unilever is likely driven by the weakness in sterling and the latter's fall in share price over the past six months.

"Unilever does not see the basis for any further discussions", the company told WSJ.

Shares of Unilever (UL) listed in the United States were trading sharply higher in pre-market trade on Friday after Kraft Heinz (KHC) confirmed it had made a bid to acquire the company.

Unilever had a market value of 125 billion dollars on Friday morning, before its shares skyrocketed following the announcement of Kraft's approach.

And while Unilever grew sales and passed on price increases in all of its markets outside of Europe last year, Kraft wasn't able to manage year-on-year expansion in any, although stripping away currency changes gave it organic sales growth in Canada and its "Rest of World" segment. Unilever and Kraft are the No. 4 and No. 5 packaged-food makers globally by market share, respectively, according to Euromonitor. But. MA ended last trade at $87.28 a share and the price is up more than -0.05% so far this year.

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The offer comes less than a month after the London-listed firm reported a decline in full-year revenue, due to a combination of currency headwinds and hard market conditions in its Indian and Latin American operations.

"Unilever would expand Kraft Heinz's CPG footprint beyond food in a major way in a single strategic acquisition", Stone points out. The Kraft Heinz Company has a one year low of $71.02 and a one year high of $91.30. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.73 billion.

He added that the organisation will "seek assurances that the company will resist this predatory takeover by Kraft Heinz".

DigitalGlobe stock gained 18% in the wake of reports that the satellite-imaging provider has attracted the attention of Canadian satellite company MacDonald Dettwiler.

"The approach by Kraft-Heinz is a total surprise". During the same period in the prior year, the firm earned $0.80 EPS.

The Kraft Heinz Company disclosed in a document filed with the US Securities and Exchange Commission (SEC) that 10% Owner 3G Global Food Holdings LP has sold 2,808,371 shares of The Kraft Heinz Company (KHC) in trading session dated Sep.