US food giant Kraft Heinz has withdrawn its offer to merge with Unilever following public rejection of its offer.
In a , Kraft and Unilever announced the withdrawal of the proposal, stating, "Unilever and
that Kraft felt it was too difficult to negotiate a deal following the public disclosure of its bid so soon after its approach to Unilever.
On Friday, Unilever roundly rejected Kraft's bid in no uncertain terms saying it saw "no merit, either financial or strategic" in the offer.
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