While Kraft Heinz and Unilever couldn’t complete a proposed $143 billion mega-merger, food
and household goods makers rose as investors bet that other deals are coming.
Grundy, the Jefferies analyst, said the Kraft Heinz-Unilever talks surprised Wall Street
because Unilever gets most of its revenue from household products, not food.
Kraft Heinz and Unilever both slumped after Kraft withdrew a $143 billion offer to buy its rival.
With the Unilever talks apparently done, analysts think Kraft Heinz is still interested in buying another company
and they are wondering if it will pursue a different consumer products company or stick to the food industry.
Unilever said the offer was too low and the companies said Kraft Heinz was giving up its effort.