Kraft poised to go hostile in its bid for Cadbury
Monday 09 November 2009
Kraft is tipped to make a hostile bid for Cadbury today, to which the UK confectioner is expected to issue another brusque rebuff.
The US food giant first approached Cadbury in September with a cash and share offer worth £10.2bn. But the UK's best-known sweet company responded with an unequivocal "No".
In the run-up to this afternoon's 5pm put up or shut up deadline from the Takeover Panel, Kraft has been weighing up whether to go hostile and how much to put on the table.
One option is to re-state the original 720p offer, but Kraft's sliding share price has dragged down the value, and City analysts estimate that anything less than 850p will receive short shrift.
Cadbury came out fighting again last week in the wake of Kraft's disappointing third-quarter results, claiming that the US company has gone from being a "low-growth conglomerate" to a "no-growth conglomerate".
- 1 Tourist films plane's descent just metres above packed Caribbean beach
- 2 Kate Moss: Previously unpublished nude photo revealed by Mert and Marcus
- 3 Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
- 4 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 5 Bad Jews poster 'censored' on London Tube
Tourist films plane's descent just metres above packed Caribbean beach
Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
Becky Watts: Four appear in court charged with hiding body parts after teenager's death
Isis 'bulldozes' Nimrud: UNESCO condemns destruction of ancient Assyrian site as a 'war crime'
Professor Brian Cox brands astrology-believing Tory MP David Tredinnick an 'outlier on the spectrum of reason'
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£12 - £15 Hourly Rate: Jemma Gent: In this role you will report to the Head of...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...