Unilever share price dented as Kraft rejection announced

Kraft’s confirmation of its bid last week had sent shares in Unilever sharply up by 13%, only for them to drop by 7% when it was rejected this week.

If accepted, the offer would have been one of the largest corporate takeovers and the biggest involving a company sited in the UK.

In the run-up to the bid announcement, Unilever was valued at £100 billion, while Kraft was priced around £91billion.

Unilever has a range of brands including the likes of Domestos and Persil while Kraft’s brands include Heinz and HP Sauce.