According to a statement released by Kraft Heinz, its initial offer was rejected by Unilever – but it intends to pursue a deal that would be one of the biggest in corporate history. Following the news, shares in Unilever rose 11%, suggesting traders believe a deal will happen. Unilever's share price of £37.22 gives the company a market valuation of £112bn ($139bn) – meaning a potential acquisition could dwarf AB InBev's £79bn ($98bn) takeover of its rival brewer SABMiller, which was approved last year. Kraft Heinz, the smaller of the two companies, is worth $106bn (£85.3bn).