Kraft Heinz has 'amicably agreed' to withdraw its proposal for a merger with Unilever, a joint statement between the two companies has announced. It emerged on Friday that the US owner of Heinz was trying to buy consumer goods giant Unilever. Unilever's shares rocketed 13 per cent, valuing it at £108 billion, after news broke of an approach from Kraft Heinz.
BREAKING NEWS: Kraft Heinz 'amicably agrees' to withdraw its Unilever merger bid
![Kraft Heinz 'agrees' to withdraw its Unilever merger bid](http://web.archive.org./web/20170219190749/http://i.dailymail.co.uk/i/pix/2017/02/19/17/3D63555900000578-0-The_boss_of_Sainsbury_s_said_he_expects_competition_authorities_-a-1_1487526510340.jpg)