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Heinz may eye BestFoods
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May 5, 2000: 12:53 p.m. ET
Report says Heinz hopes for friendly acquisition at $72 per share, or $20B
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NEW YORK (CNNfn) - H.J. Heinz Co. reportedly is offering to buy BestFoods Co. for $72 per share, or more than $20 billion, according to a report published Friday in USA Today, which cited people familiar with the deal.
Anglo-Dutch consumer products leader Unilever (UL: Research, Estimates) also is pursuing BestFoods with a sweetened offer of $66 per share.
A spokesman for Pittsburgh-based Heinz (HNZ: Research, Estimates) said his company had no comment on the story.
On Thursday, Unilever lifted its deadline for its BestFoods (BFO: Research, Estimates) bid and said it is willing to negotiate.
BestFoods brands include Hellmann's mayonnaise and Skippy peanut butter. Shares of BestFoods rose 2-3/16 to 64-1/4 in afternoon trading on the New York Stock Exchange. Heinz fell 1-1/8 to 37-1/4 and Unilever rose 3/8 to 23-5/8. 
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