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Kraft Heinz Fakes Everyone Out About Wanting to Do a Blockbuster Deal

Kraft Heinz (KHC) , you sly little devil.

The maker of Kraft mac and cheese and Heinz ketchup on Friday said it approached consumer products giant Unilever (UL) about a merger. Financing for the proposed combination, according to a report from the Financial Times, would reportedly come from noted package food industry players 3G Capital and Warren Buffett. Unilever rejected Kraft Heinz's approach.

"Kraft confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a...