Kraft had not expected to encounter the resistance it received from Unilever, one of the people said. “Kraft Heinz’s interest was made public at an extremely early stage," Kraft Heinz spokesman Michael Mullen said in a statement. Under UK takeover rules, Kraft's public withdrawal of its offer precludes it from reviving takeover talks with Unilever for six months. May has been adamant the government should be more active in vetting proposed foreign acquisitions of UK companies. Labor union representatives expressed relief that the deal talks broke down, citing concern about its potential effect on jobs and consumers.

Source: Otago Daily Times February 20, 2017 00:33 UTC