Source Pravda.Ru

Chocolate Makers Won't Be in Kraft's Path

Business news from the "sweet" companies resemble kind of well-planned advertising campaign.

Italian chocolate maker Ferrero on Monday said it did not intend making a counter-bid for British confectioner Cadbury, which last week agreed to a multi-billion-dollar takeover from US giant Kraft Foods.

US chocolate maker Hershey had on Friday also ruled out a counter-bid after reports suggested that it was weighing up a joint offer with Ferrero.

Ending a bitter hostile takeover battle with Kraft, the board of Cadbury last week agreed to an improved offer worth 11.5 billion pounds (13.1 billion euros, 18.9 billion dollars), or 840 pence per share.

Under the deal, Cadbury shareholders will also receive 10 pence per share via a special dividend, lifting Kraft's offer to 11.9 billion pounds.

AFP has contributed to the report.

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

China has allocated $20 billion to restore economies of the Arab states. In addition, China and the Arab countries will create an inter-bank association worth three billion dollars

China weaves financial web to oust Russia and USA from Middle East
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