All the day’s economic and financial news, including the unravelling of Kraft Heinz’s pursuit of Unilever and a Greek bailout meeting * Unilever shares are sliding in early trading * The agenda: Eurozone ministers to discuss Greek bailout * Full story: Kraft Heinz withdraws Unilever takeover bid 8.24am GMT GEORGE SALMON, EQUITY ANALYST AT HARGREAVES LANSDOWN, RECKONS THE BID COLLAPSED BECAUSE THAT WARREN BUFFET (KRAFT HEINZ’S BIGGEST SHAREHOLDER) WOULDN’T PUT HIS HAND DEEPER INTO HIS POCKET. SALMON SAYS: “After the news broke that Kraft were in the frame for a takeover on Friday, Unilever’s initial reaction was frosty to say the least. However, Kraft was clearly hopeful of working towards a deal. With the shares settling around half way between a realistic second offer price and where they traded before the news broke, the deal going through was far from a formality. However, it is still surprising to see it shelved just one business day after the initial news broke. 8.21am GMT WHY DID KRAFT HEINZ WALK AWAY SO FAST? One reason is that it simply wasn’t offering enough for Unilever. Continue reading...
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