Unilever pressured over Bestfoods offer

8 May 2000

Unilever pressured over Bestfoods offer

UNILEVER will come under pressure to raise its $18.4bn (12bn) offer for Bestfoods, after reports that HJ Heinz is preparing a rival bid.

The Times says that Bestfoods management is courting a Heinz bid, reputed to be pitched at $72 per share, $6 more than the Unilever offer.

But Bestfoodss management can expect a sceptical reaction from shareholders at any deal with Heinz based on share swaps, the newspaper predicts.

Marmite, Knorr soups and Hellmanns Mayonnaise are some of brands owned by Bestfoods.

  • The Times 08/05/2000 page 25

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