iStock(CHICAGO) — The Kraft Heinz Company has pulled its offer to buy Unilever.
The U.S. food company and Unilever, which houses such brands as Hellman’s and Dove, announced the decision on Sunday.
The two companies said in a press release they hold each other in high regard and that Kraft Heinz has the utmost respect for the culture, strategy and leadership of Unilever.
Shares in Kraft Heinz soared 11 percent after reports of its bid for Unilever on Friday.
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