Cadbury rejects Kraft’s Takeover bid as too low.
November 10th, 2009
Cadbury plc has rejected Kraft’s unsolicited (Hostile) takeover bid in the absence of an improved offer. The bid was first made public on September 7th.
The question now is, is that the end of the matter? How likely is it that Kraft(with Warren Buffet as its largest shareholder) will make another attempt in the months ahead? Is there a possibility of a “WhiteKnight“ company entering the fray? Could that company be Nestle plc?
A deal would have pushed Kraft past Mars plc as the worlds largest confectioner.
It will be interesting to see at what price the Cadbury share will trade at in the near future.
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