Kraft Will Pursue Spurned Bid For Cadbury | American Wholesale Marketers Association

Publish Date:

September 10, 2009

Kraft Foods Inc., the second-largest food company, said yesterday that it will pursue a takeover of Cadbury PLC even after the British maker of Trident gum and Dairy Milk chocolate rejected a $16.7 billion bid.

Cadbury shares soared 38 percent, pushing its market value above the bid price. Kraft’s proposal may trigger rival offers from Nestle SA and Hershey Co., forcing Kraft to raise its bid, analysts said.