Unilever shares plunge after Kraft Heinz merger bid scrapped

Shares in Unilever have slumped after US food giant Kraft Heinz called off its proposed 143 billion US dollar mega-merger with the consumer goods firm.

The Anglo-Dutch company dropped around 7% on the London Stock Exchange following a joint statement by the two companies on Sunday which said Kraft Heinz had "amicably agreed" to withdraw its proposal.