4 May 2000
Unilever to move in on Bestfoods?
ANGLO-DUTCH group Unilever has not ruled out a hostile bid for US food company Bestfoods, reports The Independent.
Unilever will learn on Thursday (04 May) whether Bestfoods, which includes Knorr soups and Argo and Maizena corn starches in its brands, will agree to discuss an unsolicited US$18.41 billion (11.8bn) takeover offer.
Bestfoods has already rejected a Unilver offer of $66 a share as “financially inadequate”.
Speaking at Unilevers annual meeting on Wednesday (03 May), co-chairman Niall Fitzgerald did not rule out going hostile to secure the bid.
- The Independent 04/05/2000 page 17