Kraft Heinz, the maker of Velveeta, Mac and Cheese, and Heinz Ketchup, approached Unilever, the company behind Ben & Jerry’s, Hellman’s mayonnaise, and Dove, with a $US143 billion offer on Friday that was rejected the same day. Just two days after the offer, Kraft Heinz called off its plans. Shares of Kraft were down over 3% on Tuesday morning.
In other news, Mondelez, which split with Kraft in 2012, is introducing a new line of healthy crackers and snack bars called “Vea.” Tim Cofer, Mondelez’s chief growth officer, said the company considered making an acquisition but ultimately decided to develop the new food line itself, Bloomberg reports.
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