Kraft Heinz, Mondelez Said to Not Currently Be in Deal Talks
Packages of Kraft Foods Group Inc. sliced American cheese sit on display for sale in a supermarket in Princeton, Illinois, U.S., on Wednesday, July 2, 2014. Rising prices for beef, ice cream and lettuce, mean Americans will spend the most ever for Fourth of July barbecues this year.
Photographer: Daniel Acker/BloombergKraft Heinz Co. is not currently in talks to acquire Mondelez International Inc., according to people familiar with the matter. An earlier report that the U.S. snack maker could be a target for the company sent shares higher.
Mondelez rose 4.7 percent at 5:57 p.m. in New York while Kraft Heinz advanced 2.6 percent after Bilanz magazine reported that Kraft Heinz, backed by Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital, is planning a takeover, citing an unidentified source.