Cadbury Rejects Kraft's Bid
Publish Date:
November 12, 2009
Cadbury PLC emphatically rejected a £9.8 billion ($16.28 billion) hostile bid from Kraft Foods Inc., setting up what could be a lengthy tussle for control of the British confectioner. By turning hostile with its offer on Monday, Kraft is going directly to Cadbury shareholders, asking them to accept a merger proposal that the U.K. company's executives and directors steadfastly rejected in early September.
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