Kraft Heinz agrees tot withdraw Unilever bid

NEW YORK / ROTTERDAM - Kraft Heinz has 'amicably agreed' to withdraw its proposal for a merger with Unilever, a joint statement between the two companies has announced. It emerged on Friday that the US owner of Heinz was trying to buy consumer goods giant Unilever.

Any deal would have been one of the world's biggest ever takeovers and would have resulted in a business with annual sales of more than £60 billion. 

However, in a joint statement Kraft Heinz said it had agreed not to proceed with the offer it made on Friday.

The statement said: 'Unilever and Kraft Heinz hereby announce that Kraft Heinz has amicably agreed to withdraw its proposal for a combination of the two companies.