By  on February 17, 2017

Kraft Heinz has made an offer for Unilever, which Unilever has denied, Kraft has said publicly.Kraft spokesperson Michael Mullen issued the following statement: "The Kraft Heinz Company notes the recent speculation regarding a possible combination of Kraft and Unilever plc / Unilever NA. Kraft confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a mission of long-term growth and sustainable living. While Unilever has declined the proposal, we look forward to working to reach agreement on the terms of a transaction. There can be no certainty that any further formal proposal will be made to the Board of Unilever or that an offer will be made at all or as to the terms of any transaction."The deal would add a portfolio of beauty and personal care brands to Kraft, which owns food brands like Oscar Meyer, Kool-Aid and Jello-O. Unilever's portfolio includes food, home and personal care brands, such as Hellman's, Windex and Dove.Unilever has been working to build up its higher-end beauty portfolio in recent years with acquisitions like hair care brand Living Proof, which closed in January, and skin care brands Murad, Kate Sommerville and Ren.Unilever's shares traded up yesterday on rumors of the news, closing at $42.32, and were up about 10 percent, to $46.97 in pre-market trading.

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