It has been a big few days for megamergers — more specifically for megamerger flops. First, Christo Wiese’s $30bn attempt to combine Steinhoff and Shoprite had to be abandoned because other shareholders so clearly didn’t support it. Further afield, consumer goods giant Kraft Heinz had to abandon its $143bn bid for Anglo-Dutch group Unilever, which made it clear it was resolutely opposed to any deal. Sadly, that means we won’t have the many months of dramatic to-and-fro negotiations and grandstanding that often go with such deals or the drawn-out process of seeking regulatory clearances in jurisdictions around the world. Shareholders in our two home-grown groups are not too unhappy about this. Shares in both Shoprite and Steinhoff jumped 7% on Monday on news that the two had terminated their talks. Though Wiese initially had the support of the Public Investment Commission for the deal, which could have led to a full takeover of Shoprite by Steinhoff, many of Shoprite’s other sharehol...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now