Kraft withdraws offer to merge with Unilever
Feb 19 (Reuters) - Kraft Heinz Co (Swiss: KHC.SW - news) has agreed to withdraw its proposal for a $143 billion merger with larger rival Unilever Plc (NYSE: UL - news) , the companies said on Sunday.
U.S.-based Kraft had made a surprise offer for Unilever in a bid to build a global consumer goods behemoth, although it was flatly rejected on Friday by Unilever, the maker of Lipton tea and Dove soap.
(Reporting by Ismail Shakil in Bengaluru; Editing by Jeffrey Benkoe)