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Article: United States : Kraft May Raise $16 Billion Bid for Cadbury.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Kraft Foods Inc, the world s second-largest food maker, may increase its 9.8 billion-pound ($16 billion) bid for confectioner Cadbury Plc by Monday s deadline to keep its takeover attempt alive.
Kraft proposed 300 pence in cash and 0.2589 new Kraft share per Cadbury share on August 28, an offer worth 717 pence based on November 6 closing prices. Cadbury rejected that as an unappealing prospect from a low-growth conglomerate. UK regulators set a November 9 deadline for Kraft to make a formal offer or walk away for six months.
If they try anything less than 800 pence, people will yawn and say go away , John Haynes, an equity ...