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Kraft buys Cadbury for $19.6 billion

January 19, 2010 11:36 by kippreport

US-based Kraft Foods has signed a deal to buy British chocolate maker Cadbury for around $19.6 billion, ending a six-month takeover battle, reports the BBC. The deal will lead to the creation of the world’s largest confectionery group.

Kraft’s previous offer of $17.1 billion had been rejected by Cadbury, and Kraft’s CEO Irene Rosenfeld was forced to inject more cash into her bid to win over the chocolate maker. But a majority of Cadbury’s shareholders still have to accept the deal, and chocolate maker Hershey also has time till January 25 to make a counter bid.

Tags: buy, Cadbury, deal, Kraft