Kraft's Cadbury Move Sparks City Hopes of a Bidding War

The Scotsman › September 08, 2009

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Summary

KRAFT Foods was last night facing the prospect of raising its offer for Cadbury by up to 40 per cent as analysts anticipated a rival bid from another food giant.

The world's second-largest sweet maker, which earlier in the day had a GBP 10.2 billion offer for Cadbury rejected, said it hoped to clinch a deal, which it described as "compelling" and which would create a global food giant with sales of dollars 50bn (GBP 30bn).

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Kraft's Cadbury Move Sparks City Hopes of a Bidding War

Shares in Cadbury, which makes Dairy Milk, Crunchie, Flake and Creme Eggs, soared on the news, climbing 38 per cent to close at 783p. The spike indicated that analysts are expecting Kraft to raise its offer or for a riva...

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