By Commodity News Service Canada

WINNIPEG, Feb. 21 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Kraft Heinz dropped its bid to purchase rival Unilever, after Unilever said there was ‘no merit, either financial or strategic,’ in Kraft’s offer. If it had gone through, the US$143 billion deal would have joined dozens of global food brands under one company.

– Meanwhile, Restaurant Brands International, which owns Tim Hortons, is moving forward on a US$1.8 billion deal to purchase Popeyes Louisiana Kitchen, according to reports.

– OPEC and other oil producers are on track to comply with an agreement to reduce global oil production, according to the secretary-general of the group. OPEC intends to reduce crude production in order to reduce the global surplus, and keep prices firm.