Unilever plunges as early opposition kills Kraft Heinz bid

Shares of Unilever jumped 13 per cent Friday in Amsterdam, closing at a record high

Kraft Heinz’s $143 billion bid for Unilever collapsed just two days after it became public knowledge, with the adamance of the Anglo-Dutch target’s rejection said to play into billionaire Warren Buffett’s longtime aversion to hostile deals.

Unilever shares fell as much as 7.9 per cent in early trading in London on Monday, reversing some of their gain Friday after the US maker of ketchup and baked beans disclosed its approach.

The decision not to pursue what could have been the largest-ever takeover in the food and beverage industry came after 3G Capital and Buffett’s Berkshire Hathaway, which together own about