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00:02Unilever and Kraft Heinz held talks to merge parts of their food businesses,
00:06but ended discussions, according to Reuters. The talks focused on combining Unilever's food
00:11division with Kraft Heinz's condiments business, which would have created a new
00:15entity worth tens of billions of dollars and united brands like Hellman's and Heinz.
00:19Unilever is now considering a broader separation of its food assets,
00:23according to Bloomberg. Its shares fell 3.5% on concerns over a potential spinoff.
00:28The two companies declined to comment to Reuters.
00:32Kraft Heinz halted plans to split the company in February and is investing $600 million
00:37in a turnaround under CEO Steve Kallane after struggling since its merger.
00:41For all things money, visit Benzinga.com.
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