Unilever rejected Kraft Heinz's takeover bid last Friday but now says it is reviewing options.
Unilever, the company behind Ben & Jerry's, Hellman's mayonnaise, and Dove, is up 6.6% at $38.20 a share on Wednesday morning.
It's been a busy last few days for the company, which was approached by Kraft Heinz with a surprise $143 billion takeover offer last Friday. Unilever rejected the bid the same day, saying in a statement that the company "rejected the proposal as it sees no merit, either financial or strategic, for Unilever's shareholders." Two days after the offer, Kraft Heinz decided to call off its plans.
A merger between the two firms would have been one of the biggest in history.
On Wednesday, Unilever revealed that it is now reviewing options to drive shareholder value.
"The events of the last week have highlighted the need to capture more quickly the value we see in Unilever," it said in a statement. The review is expected to be completed by early April, according to the company.
