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Cadbury PLC rejects Kraft Foods' takeover bid
Automatic Merchandiser, Sep 2009
Cadbury PLC has evaluated and rejected an unsolicited takeover offer from Kraft Foods Inc. Cadbury's board said it is confident in the company's stand-alone strategy and growth prospects. The board said the proposal fundamentally undervalues the group and its prospects.
Kraft Foods Inc. has confirmed it has had an initial takeover bid for Cadbury PLC rejected but said it intends to work towards a deal that would create a $50 billion food industry powerhouse, according to www.foodproductiondaily.com.
Copyright Cygnus Business Media Sep 2009
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