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.

Comments
Russian Guard to see enemies behind walls
Russian Guard to see enemies behind walls
Turkish President Erdogan issues ultimatum to Washington and Brussels
Having lost in Syria, the West needs to find another victim nation
Russian-Indian defence cooperation in danger after India commits inadmissible act
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
Putin in Egypt: Who's the big player in the Middle East?
Putin in Egypt: Who's the big player in the Middle East?
US military men depressed over of Russia's new T-5000 sniper rifle
Turkish President Erdogan issues ultimatum to Washington and Brussels
Turkish President Erdogan issues ultimatum to Washington and Brussels
US military men depressed over of Russia's new T-5000 sniper rifle
Turkish President Erdogan issues ultimatum to Washington and Brussels
Child model from Russia ranked most beautiful girl in the world
Russia works on MiG-41 doomsday fighter jet
US military men depressed over of Russia's new T-5000 sniper rifle
US military men depressed over of Russia's new T-5000 sniper rifle
Russia to rebuild its former Soviet naval base in Syria's Tartus
Lenin planted the seeds that destroyed the USSR
Kim Jong-un's tactic of hard power teaches USA lesson of obedience