Kraft Heinz Makes Approach to Unilever in 140 billion euro deal

ROTTERDAM / LONDON - Kraft Heinz said it made an approach to Unilever about combining the companies, a deal that would create a consumer-goods giant with brands spanning Dove soap to Heinz ketchup.

Unilever rejected the approach, Kraft Heinz said Friday in a statement issued in response to speculation that it had made a bid. The Pittsburgh-based company said it made a “comprehensive proposal” and will seek to gain an agreement on the terms of a transaction.

A deal for Unilever would be the largest takeover ever in the food or beverage industries, surpassing Anheuser-Busch InBev SA’s purchase last year of SABMiller Plc for about $123 billion including debt.