09 November 2009 - 14H46  

US giant Kraft launches hostile bid for Cadbury
A picture taken inside the Cadbury chocolate factory in Birmingham, central England, in September. US giant Kraft Foods on Monday launched a formal takeover offer for Cadbury, two months after the British confectioner rejected an informal 10.2-billion-pound (17.1-billion-dollar, 11.4-billion-euro) bid.
A picture taken inside the Cadbury chocolate factory in Birmingham, central England, in September. US giant Kraft Foods on Monday launched a formal takeover offer for Cadbury, two months after the British confectioner rejected an informal 10.2-billion-pound (17.1-billion-dollar, 11.4-billion-euro) bid.

AFP - US giant Kraft Foods on Monday launched a hostile 9.8-billion-pound takeover bid for Cadbury, two months after an informal offer was rejected by the British confectioner.

The cash and stocks offer matches the terms of Kraft's original bid in September.

However changes to currency and stock market values since then means the new bid is worth 9.8 billion pounds (11.0 billion euros, 16.4 billion dollars), less than the original offer of 10.2 billion pounds.

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