LONDON — Under pressure after spurning a blockbuster $143 billion takeover offer, Unilever said on Thursday that it would explore the sale of its spreads business, restructure two major divisions, review its dual legal structure and buy back $5.3 billion in stock as it seeks to cut costs and appease investors.
The moves, which include overhauling its food and beverage operations, are meant to reassure investors who had seen the possibility of more grocery store shelf space and cost savings from the takeover bid in February by a fellow food giant, Kraft Heinz.
But Kraft Heinz withdrew its $143 billion offer for Unilever, the British-Dutch maker of Dove soap, Ben & Jerry’s ice cream and Hellmann’s mayonnaise, in the face of public criticism and of resistance from its prospective partner.
To read the rest of the story, please go to: New York Times
