Articles > Popular publications > The Boston Globe (Boston, MA) news wires > November 2009

Article: Deadline's here for Kraft on Cadbury

Article from:
The Boston Globe (Boston, MA)
Article date:
November 9, 2009
Author:
Copyright

ATLANTA - Kraft Foods Inc., the world's second-largest food maker, might have to increase its $16 billion bid for the confectioner Cadbury PLC by today's deadline to keep its takeover attempt alive, investors said.

Kraft proposed a takeover on Aug. 28, which Cadbury rejected as an "unappealing prospect" from a "low-growth" conglomerate.

Regulators in the United Kingdom set a Nov. 9 deadline for Kraft to make a formal offer or walk away for six months.

The Northfield, Ill.-based maker of Ritz crackers and Oreo cookies has said it seeks to build on its position as a "global powerhouse" with combined annual revenue of about $50 billion. ...

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