For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
Oneindia App Download

Cadbury confirms takeover deal by Kraft

Written by: Staff
|
Google Oneindia News

London, Jan 19: Chocolate maker Cadbury on Tuesday, Jan 19, confirmed that it was finalising a deal to be taken over by US food giant Kraft Foods.

In a joint statement, the companies said,"The boards of Kraft Foods Inc. and Cadbury plc confirm that they are finalising the terms of a recommended offer for Cadbury plc. A further announcement will be made shortly."

According to reports, Cadbury's decision is believed to have come after Kraft's raised its offer from 10.5 billion pounds to about 11.7 billion pounds.

Kraft previously offered 761 pence per share, valuing the company at 10.5bn, a bid Cadbury's chairman Roger Carr said was an attempt to "buy Cadbury on the cheap."

Cadbury is the world's second biggest confectionery company. Its leading brands include Dairy Milk chocolate and Trident chewing gum.

Kraft, the world's second biggest snacks group after Nestle, makes numerous well-known products including Dairylea cheese, Milka and Toblerone chocolate and Oreo cookies.

OneIndia News

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X