News Tag: hostile bid

November 18, 2009

Hershey and Ferrero mulling over joint bid for Cadbury

by Kay Murchie
Following the hostile bid from Kraft Foods, British confectioner Cadbury is now reported to be facing a joint bid from US giant Hershey Co in partnership with Italy's confectionery group Ferrero. According to reports, the two companies have been in secret talks "for weeks" about making the alliance. A source close to the situation said yesterday that discussions between ...

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November 9, 2009

Cadbury turns down Kraft hostile bid

by Kay Murchie
The board of British confectioner Cadbury has swiftly rejected the £9.8 billion ($16.4 billion) hostile bid from US food giant Kraft. The offer, which was put directly to Cadbury’s shareholders, was described by chairman Roger Carr as "derisory". Kraft said it would offer 300p in cash and 0.2589 new Kraft shares for each Cadbury share, the same terms as it proposed two ...

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Kraft deadline looms as Cadbury awaits next move

by Kay Murchie
Two months ago, US food giant Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, approached Cadbury with an informal £10.2 billion takeover offer, which the UK confectioner later rejected. Roger Carr, chairman of Cadbury, described its US rival’s £10.2 billion takeover offer as an “unappealing” and “unattractive prospect”. However, under takeover rules, the US food ...

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