Jorge Paulo Lemann

Kraft Heinz goes big with $143 billion Unilever bid

Kraft Heinz goes big with $143 billion Unilever bid

Many expected Kraft Heinz to make a move, perhaps to acquire General Mills, Kellogg or even Deerfield-based Mondelez International.

But Kraft Heinz had bigger plans, as revealed early Friday morning when the company confirmed its $143 billion takeover bid for Unilever, maker of Hellmann's Mayonnaise and Lipton Tea among many other brands.

Unilever said no. But Kraft Heinz, co-headquartered in Chicago and Pittsburgh, said Friday that it would still work to reach an agreement on the terms of a transaction. For Kraft Heinz, backed by Warren Buffett's Berkshire Hathaway and Brazilian private equity firm 3G Capital, the sheer size of the proposed deal reveals the tremendous...