Kraft Heinz drops Unilever takeover bid!

• Kraft Heinz has said it has dropped its plan to buy Anglo-Dutch rival Unilever.

Marmite-maker Unilever rejected the US food giant's bid on Friday, saying it saw "no merit, either financial or strategic" in Kraft's offer, worth about $143bn (£115bn).

"Unilever and Kraft Heinz hold each other in high regard," the companies said in a joint statement.

The deal would have been one of the biggest in corporate history, combining dozens of household names.

Unilever owns Ben & Jerry's ice cream, Dove soap, and Hellmann's mayonnaise, while Kraft's range includes Philadelphia cheese and Heinz baked beans.