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Monday, November 23, 2009
Kraft Foods in Bid for Cadbury
FOXBusiness
Kraft Foods (KFT) or other industry rivals may make a bid for Cadbury, according to reports that said Kraft could make a bid for the company worth 9.9 billion pounds.
Other large companies in the candy industry like Hershey, Italian confectioner Ferrero and Nestle AG may consider making a bid, according to reports from Reuters. Nestle is a strong competitor thanks to its takeover of British chocolate-maker Rowntree in 1988, yet an acquisition of Cadbury could create regulatory problems.
Analysts speculate that the companies would not make a bid for Cadbury by themselves, but if they joined efforts, they could trump Kraft’s offer.
Kraft already made a bid for Cadbury earlier this month, and has placed a value on shares at approximately 727 pence. By December 7, Kraft will have published its official offer and made it public to Cadbury shareholders.
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