Kraft-Heinz (KHC) - Get Kraft Heinz Company (KHC) Report confirmed Unilever (UL) - Get Unilever PLC Sponsored ADR Report declined a merger proposal. Kraft recently reported earnings that disappointed investors with lower cost savings. Though not listed as a priority for its free cash flow, M&A rumors have run rampant. The Unilever merger would expand Kraft's reach to brands including Axe and Hellmann's. "While Unilever has declined the proposal, we look forward to working to reach agreement on the terms of a transaction", Kraft-Heinz tells TheStreet.
This article was written by a staff member of TheStreet.