Kraft buys Cadbury for $19.6 billion
The deal will lead to the creation of the world's largest confectionery group.
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.
More on GCC
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
-
Dubai looking at alternatives to repay debt
-
Two more die in Saudi Arabia from SARS-like virus – WHO
-
Alwaleed’s Kingdom on the prowl
-
Qatar Airways now looks to Airbus
-
World’s Longest-Range Passenger Jet
-
Abu Dhabi says financial zone will bridge a gap
