Kraft launches hostile bid for Cadbury (Dealscape

Kraft Foods Inc. on Monday launched a hostile bid for Cadbury plc, aggressively priced with no sweetener to a $16.3 billion proposal. The target swiftly rejected the offer as derisory.

After more than two months of deliberations, and with no rival bidders on the scene, Kraft chose to leave its unsuccessful, stock-and-cash proposal unchanged, despite widespread skepticism about the value and a decline in its own share price over the period. The move, which came just a few hours before a U.K. Takeover Panel deadline required Kraft to formalize its offer or walk away, ushers in what is sure to be a tough -- and lengthy -- fight.

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NOT A SUBSCRIBER? Kraft launches hostile bid for Cadbury Posted on November 9, 2009 1:00 PM Kraft Foods Inc. on Monday launched a hostile bid for Cadbury plc, aggressively priced with no sweetener to a $16.3 billion proposal. The target swiftly rejected the offer as derisory. After more than two months of deliberations, and with no rival bidders on the scene, Kraft chose to leave its unsuccessful, stock-and-cash proposal unchanged, despite widespread skepticism about the value and a decline in its own share price over the period. The move, which came just a few hours before a U.K. Takeover Panel deadline required Kraft to formalize its offer or walk away, ushers in what is sure to be a tough -- and lengthy -- fight. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 407 in-depth reports of M&A deals in the Food sector 42 in-depth transaction records for Kraft Foods 41 in-depth transaction records for Cadbury 26 articles related to Roger Carr 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Cooley Godward Kronish Champ Car World Series MDV Energy Lazard SunGard Data Systems Jo-Ann Stores Private Equity Funds Deutsche Bank McStain Enterprises Chaparral Energy		EXISTING USERS Username Password Forget your password? Missing a product?

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