Financial News

LONDON — Following word Kraft Heinz would no longer pursue an acquisition of the company, Unilever announced Wednesday it will conduct a comprehensive review of options available to “accelerate delivery of value for the benefit of our shareholders.”

“The events of the last week have highlighted the need to capture more quickly the value we see in Unilever,” Unilever said in a statement. “We expect the review to be completed by early April, after which we will communicate further.”

PITTSBURGH — Kraft Heinz has called off its $143 billion proposed merger with Unilever.

“Unilever and Kraft Heinz hereby announce that Kraft Heinz has amicably agreed to withdraw its proposal for a combination of the two companies,” the companies said in a joint statement. “Unilever and Kraft Heinz hold each other in high regard. Kraft Heinz has the utmost respect for the culture, strategy and leadership of Unilever.”

BENTONVILLE, Ark.— Walmart stock was trading higher 3.1% by more than $2 per share to $71.50 in early afternoon trading following the greatest quarterly increase in same-store sales since July 2012. According to the company, Walmart U.S. comp sales increased 1.8%, driven by a traffic increase of 1.4%. Neighborhood Market comps increased approximately 5.3%.

PITTSBURGH — Kraft Heinz proposed a $143 billion merger with Unilever, but Unilever rejected the bid, stating it undervalues its company.

"Unilever rejected the proposal as it sees no merit, either financial or strategic, for Unilever's shareholders. Unilever does not see the basis for any further discussions,” the company said in a statement.

Although Unilever rejected the initial proposal, this may not be Kraft Heinz’s only merger proposal.

WASHINGTON — The Federal Trade Commission is expected to approve Walgreens’s acquisition of Rite Aid in the next two to four weeks, reported the New York Post, citing two sources close to the situation.

GRAND CAYMAN, Cayman Islands — Well-known hedge fund manager David Einhorn, founder and CEO of Greenlight Capital, acquired significant stakes in both Fred’s Pharmacy and Rite Aid, according to Form 13F filings with the U.S. Securities and Exchange Commission released Tuesday.

PRINCETON, N.J. — Roche, Novartis and Pfizer are actively exploring a takeover of Bristol-Myers Squibb, while Gilead might be “considering the idea” of making an acquisition offer, according to reports from Streetinsider.com and Barrons.com. However, no deal is considered imminent.

HARTFORD, Conn. — Aetna and Humana on Tuesday walked away from a joint merger that was originally valued at $37 billion, the companies announced. The companies decided to mutually end their merger agreement following a ruling from the United States District Court for the District of Columbia granting a United States Department of Justice request to enjoin the merger.