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Kraft’s hostile bid for Cadbury rejected


November 9, 2009
By Business Week

Nov. 9, 2009 – After months of planning, Kraft finally made its move today for British candy maker Cadbury. Unfortunately for the Northfield, Ill.-based food giant, Cadbury's reply was short and sweet: "Thanks, but no thanks."

Nov. 9, 2009 – After months of planning, Kraft finally
made its move today for British candy maker Cadbury. Unfortunately for
the Northfield, Ill.-based food giant, Cadbury's reply was short and
sweet: "Thanks, but no thanks."

Under the proposal, the U.S. company is offering a cash-and-stock offer
that values Cadbury at $16.5 billion. That’s considerably less than
most Cadbury shareholders had wanted.
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