The Presidential Daily Brief

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    Unilever Restructures After Kraft Rejection

    It’s a margarine call. After rejecting a $143 billion takeover from Kraft Heinz, Unilever has done the multinational version of soul-searching and decided to get out of the spread game. Along with selling its margarine business, Unilever will double the savings target of its three-year cost-cutting initiative and buy back $5.3 billion in shares. This will also mean job cuts — though it’s not yet clear how many — and a rethink of the company’s current dual nationality, which splits its structure between Britain and the Netherlands.

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