Anglo-Dutch conglomerate Unileverhas hardened its stance in its $18.4 billion takeover bid for Bestfoods [WAMN, 3-May-00], giving the latter’s directors just 24 hours to reconsider the unsolicited offer.

Unilever still hopes to win the support of the Bestfoods board which yesterday rejected the offer. Unilever chairman Niall Fitzgerald is plainly anxious not to move into a hostile bid situation as he is eager to recruit Bestfoods’ management team to his group’s flagging international food operations which currently turnover $13 billion annually.

Sourced from: The Times (UK)