Beverly Hills 12/5/2009 3:11:51 AM
News / Business

Kraft Takes $16.3 Billion Offer to Cadbury Shareholders

Finance World News Update by EQUITIES Magazine

Kraft Foods Inc took its $16.3 billion hostile takeover offer for Cadbury PLC to the shareholders. Nearly unchanged from an earlier offer Cadbury rejected, putting it directly in shareholder hands allows Kraft to start the clock on a series of regulatory deadlines to get the majority support it needs as well as possibly flush out rival bids. Under British regulations, Cadbury has two weeks to give a formal response to the offer before shareholders.

The offer includes 300 pence in cash and 0.2589 new Kraft shares for each Cadbury share.

Stocks of Kraft rose 10 cents to $26.52 in midday trading.

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