Northfield / IL. (kf) Kraft Foods Inc. on Friday formally posted its merger-offer documents for Cadbury PLC shareholders to accept or reject. Based on Friday morning trading prices, the deal is worth 16,8 billion USD in stock and cash. Kraft is sticking by its original offer price, which involves 0,2589 new Kraft shares and 3,00 GBP in cash for each Cadbury share. Under the rules of the British Panel on Takeovers and Mergers (PTM), it sets the clock ticking on the deal. Cadbury´s board has already rejected the offer, saying it undervalues the company. Cadbury now has 14 days to issue a formal defense argument. No other company has made a formal offer for Cadbury even though U.S. chocolate maker Hershey and closely-held Italian chocolate maker Ferrero have expressed some interest.
Info: Kraft Foods Inc. to Publish Offer Documentation Related to Proposed Acquisition of Cadbury PLC (Kraft Foods Inc. | 2009-12-04).
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Reborn Coffee takes over Korean Bbang Ssaem Bakery
- SSP Group: announces Third Quarter Trading Update 2024
- LG Chem and ADM: Joint Ventures in Illinois are canceled
- Wendy’s: Company plans to expand into Europe
- Delivery Hero: may face significant fine due to antitrust violations
- Emmi Group: intends to acquire Mademoiselle Desserts
- AB Foods: announces strong H1-2024 performance
- DSM-Firmenich: Queen Maxima inaugurates new dual head office
- RBI: Announces Investments to Drive Growth in China
- Europastry S.A.: puts its IPO process on hold
- McCormick: Reports Second Quarter Performance
- Reborn Coffee: Closes Master License Agreement for UAE
- General Mills: Reports Fiscal 2024 Fourth-Quarter Results
- SunOpta expands plant for processing plant-based beverages
- Britannia: Operating profit grew 10 percent in FY-2023
- Tate + Lyle and CP Kelco to merge to leading global player
- Ülker Bisküvi: announces Q1-2024 financial results
- Europastry: intends to go public on the Spanish stock exchange
- Europastry S.A.: publishes 2023 Annual Report
- Swisslog: announces new Americas region headquarters