September 16, 1999 |
H.J. Heinz Co. refused comment and Bestfoods denied rumors that the two companies were in merger talks, but investors bid up their shares on the prospect of a takeover boosting the value of the food companies' stocks. Englewood Cliffs, N.J.-based Bestfoods issued a statement saying "no significant acquisition or combination discussions are in progress" after a Wall Street Journal report that the two companies had discussed a merger.
June 6, 2000 |
Takeover target Bestfoods' highly public game of cat and mouse with its European suitor Unilever is apparently starting to leave a sour taste in the mouths of Bestfoods' investors. Bestfoods, the maker of such well-known household brands as Skippy peanut butter, Hellmann's mayonnaise and Knorr soups, is reportedly mulling a new and improved $20.5-billion offer from Unilever, while at the same time negotiating to purchase Campbell Soup Co. for $15 billion.
June 7, 2000 |
Bestfoods on Tuesday agreed to a sweetened buyout offer from Unilever of $20.3 billion, or $73 a share, that would create the world's biggest food maker. The Anglo-Dutch company won over Bestfoods Chairman Charles Shoemate by raising its cash offer a month after he rejected a bid for $66 a share. Shoemate opened merger talks with Campbell Soup Co., Diageo and H.J. Heinz Co., people close to the situation have said.