Unilever: Bryan Garnier retains a 'neutral' rating.

(CercleFinance.com) - Bryan Garnier maintains a 'neutral' recommendation on Unilever, with a fair value of 42 euros after the US food giant Kraft Heinz withdrew its merger proposal during the week-end.

The brokerage firm says it seems that the early leaking of information regarding Kraft's interest made it hard for the company to negotiate a deal that would have been attractive.

Another reason is the hostile response from UK politicians, Bryan Garnier adds.

Recalling that Kraft will now have to wait six months before making a new offer, the broker thinks that Unilever's focus on sustainability might make it very resistant to another approach from Kraft, whose priority is to cut costs and extend accounts payable, BG understands.

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