Kraft Foods is poised to launch a hostile bid for Cadbury valuing the British confectionery business at around £11bn. The takeover panel is preparing this week to set the American group a deadline by which time it must put a firm offer on the table – or walk away for at least six months.

City sources say Kraft could bid 800p a share, which could rise to 850p as the bid battle reaches its climax over the 60-day limit set by the panel for takeovers.

via Kraft ready to offer £11bn for Cadbury | Business | The Observer.

Tags: business, food, packaging

This entry was posted on Monday, September 28th, 2009 at 1:10 pm and is filed under Business News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.