Another Brexit downside: foreign giants in power grabs for famous British names

The fall in the pound against the dollar has made it easier for Kraft Heinz to launch an approach for Unilever, and made UK carmaking unattractive to GM

A small corner of Merseyside has become the centre of the corporate universe. Vauxhall’s plant in Ellesmere Port is less than seven miles away from Unilever’s base in Port Sunlight on the Wirral peninsula. The thousands of workers in those two places now face an anxious wait for the outcome of takeover talks involving their parent companies.

Last week General Motors revealed it was in talks with Groupe PSA, the owner of Peugeot and Citroen, about selling its European businesses, Opel and Vauxhall, while Unilever rejected a $143bn (£115bn) bid from Kraft Heinz.

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from Mergers and acquisitions | The Guardian http://ift.tt/2lvoXWv