Kraft's Cadbury bid starts takeover tussle
NEW YORK (AP) — Kraft Foods has gone hostile in its bid to buy Cadbury but didn't sweeten its first bid, drawing an immediate rejection from the British candy maker in what is likely to be a lengthy takeover struggle.
Taking the same offer directly to Cadbury shareholders likely means that Kraft is betting no competing bids will emerge for the maker of Dairy Milk and Creme Eggs. The early gambit also leaves the company room to take the bid higher.
Kraft made the offer, worth about $16.4 billion, just hours before a Monday deadline imposed by Britain's takeover law that required the company to make a formal offer or back off for six months.
Comments
- TCU still has a chance 2:04 a.m.
- Unranked Orange move to 4-0 1:52 a.m.
- 3A: Juan Diego 12, Hurricane 10 1:51 a.m.
- Cougars cruise to victory in Hawaii 1:38 a.m.
- 5A: Bingham vs Davis 1:32 a.m.
- 5A: Bingham 35, Davis 24 1:30 a.m.
- 5A: Darts impress in title loss 1:13 a.m.
- 5A: Miners' Cantwell makes name 1:11 a.m.
- Can BYU throw vs. Air Force? 1:10 a.m.
- 4A: Timpview defense stepped up 1:09 a.m.
- Mailman's nomination delivered
- Jazz finally win in San Antonio
- U. professor dies after fall from bus
- 'New Moon' rising: Vamps vs. 'wolves
- 4A: Timpview wins 4th in 4 years
- Archuleta still calls Utah home
- Horrifying scenario described
- Officer cleared in Cardall Taser case
- Unga's status 'a game-time decision'
- 'New Moon' doesn't rise to occasion
- Buttars wants to limit gay rights laws
182 - Palin plans tour stop in Utah167
- BYU, Utah struck gold in coaches123
- Lies shatter Utah family122
- Palin's book shows she's unqualified105
- Officer cleared in Cardall Taser case96
- Jazz finally win in San Antonio95
- BYU cuts Women's Research Inst.94
- Utes knock off rival Aggies92
- Huntsman pleased with Obama84
There's a lot of reason to leave your plastic home as you shop:
I don't pretend to be an expert on global warming. I've met with...
Latest comments
Ask just women of childbearing age do they want to decide their reproductive...
On behalf of the millions of people worldwide who worship the devine and...
That happened approximately 9 years ago.
For being a terrible program, Bronco still has one more win than Kyle...go...
wow, that was a game. #56 for Hurricane seemed to be in on almost every...
That was the most amazing drive and play I have ever seen in high school...
for stepping up and doing the right thing in challenging portions of the...
A majority of us are apposed to abortion, but we are in even greater...
"Speed kills. Speed beats size everytime. " haha, everytime eh? If that...
Air Force 35 BYU 21
You can be the first to comment on this story.