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Deals

Kraft backs out of Unilever bid after hostile reception

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LONDON Kraft Heinz Co's rapid retreat from its surprise $143 billion bid for Unilever in the face of stiff resistance knocked the Anglo-Dutch company's shares on Monday as investors assessed the impact of the failed approach. | Video

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Exclusive: Burger King and Tim Hortons owner nears deal to buy Popeyes - sources 8:59pm GMT

Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc, people familiar with the matter said on Monday.

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Snap arrives in London to woo skeptical investors ahead of IPO 10:12pm GMT

LONDON Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance.

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Germany encouraged over Opel jobs, but UK union worries 5:44pm GMT

BERLIN/LONDON Initial talks between the German government and carmakers PSA and General Motors have led to some encouraging signs that jobs at Opel factories will be preserved, though no guarantees have been made yet, a top official said on Monday.

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Collapse of Kraft-Unilever tie-up extends run of failed mega-deals 7:45pm GMT

LONDON Kraft Heinz's dropped bid to buy Unilever is the third-largest M&A deal to collapse, according to Thomson Reuters data, adding to a recent run of failures that highlights the appetite for the pursuit of audacious mega-mergers.

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Wanda's $1 billion purchase of Dick Clark Productions falls apart: report 9:11pm GMT

Chinese conglomerate and cinema chain operator Dalian Wanda’s proposed $1 billion purchase of Dick Clark Productions Inc has fallen apart, online entertainment news website The Wrap reported on Monday, citing unnamed sources.

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Saudi favors New York for Aramco IPO, also considers Toronto, London: WSJ 7:17pm GMT

Saudi Arabia is favoring New York to list state oil giant Saudi Aramco , while also considering London and Toronto for the prospect of floating the firm, the Wall Street Journal reported on Monday.

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Wiese misses out as South Africa's Steinhoff and Shoprite scrap merger 5:52pm GMT

JOHANNESBURG South Africa's Steinhoff and grocery retailer Shoprite called off a deal to create an African shopping giant on Monday, preventing leading investor Christo Wiese from bringing more of his retail assets under one roof.

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Exclusive: China's Geely to bid for Malaysian car maker Proton - sources 11:27am GMT

BEIJING Chinese automaker Zhejiang Geely Holding Group Co is expected to bid as early as this week for a strategic partnership with struggling Malaysian car maker Proton Holdings Bhd, two people familiar with the bidding process told Reuters.

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Kraft's failed Unilever bid shows it needs growth over cost cuts 6:26pm GMT

Acquire, slash costs, repeat. Billionaire investor Warren Buffet and buyout firm 3G Capital's failed $143 billion bid to combine their food conglomerate Kraft Heinz Co with Unilever Plc shows their winning formula now needs a growth boost.

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