Kraft given November deadline for Cadbury bid

Oct. 4, 2009 – The U.K.’s Takeover Panel has announced a deadline of Nov. 9 for
Kraft to make a bid for Cadbury or to say that it does not intend to
make an offer.

Oct. 4, 2009 – The U.K.’s Takeover Panel has announced a deadline of Nov. 9 for
Kraft to make a bid for Cadbury or to say that it does not intend to
make an offer.

Companies that are targeted for takeover frequently approach the takeover panel seeking a so-called ‘put-up-or-shut-up’ action in order to minimize disruption to business and uncertainty for shareholders. Kraft made an offer of £10.2 billion (about US$16.4 billion) on Aug. 28, but Cadbury swiftly rejected the bid. | READ MORE