AA Sweetens JAL Offer; Cadbury Rebuffs Kraft; China's Growing Fortunes
Cadbury Plc's union, Unite, will warn members of Britain's Parliament on Tuesday that a potential bidding war for the UK chocolatier will further undermine worker rights.
British bid target Cadbury (CBRY.L) will paint an upbeat picture for 2010 and upgrade 2009 forecasts next week in a final attempt to fight off a hostile bid from Kraft Foods (KFT.N), analysts said on Friday.
British bid target Cadbury (CBRY.L) will paint an upbeat picture for 2010 and upgrade 2009 forecasts next week in a final attempt to fight off a hostile bid from Kraft Foods (KFT.N), analysts said on Friday.
Already seen as a long-shot bidder, Italian chocolate maker Ferrero's interest in Cadbury Plc has cooled as the hurdles of getting financing and finding suitable partners before the deadline becomes increasingly daunting, sources familiar with the situation said.
The world's biggest food group Nestle (NESN.VX) said it had sufficient scale in confectionery and only expected small buys, having ruled out rivaling Kraft Foods' (KFT.N) bid for British chocolate maker Cadbury (CBRY.L).
Cadbury shares dipped below Kraft Foods' 10.6 billion-pound ($17 billion) bid price for the first time on Thursday as prospects of a rival bid receded and analysts reckoned Kraft now needed only to slightly sweeten its offer to win.
U.S. stock index futures pointed to a lower opening on Wall Street on Thursday, with futures for the S&P 500, the Dow Jones industrial average and Nasdaq 100 down 0.4 to 0.5 percent.
Cadbury shares dipped below the level of Kraft Foods' 10.6 billion-pound ($17 billion) bid for the first time on Thursday as prospects of a rival bid receded and analysts reckoned Kraft now needs only to slightly sweeten its offer to win.
Members of Cadbury Plc's board have been talking with counterparts at Hershey Co as expectations fade for a significantly higher bid from Kraft Foods Inc .
Members of Cadbury Plc's board have been talking with counterparts at Hershey Co as expectations fade for a significantly higher bid from Kraft Foods Inc .
Members of Cadbury Plc's board are talking with counterparts at Hershey Co and other potential bidders as hopes wane for a significantly higher bid from Kraft Foods Inc .
The European Commission said on Wednesday it had given conditional approval for U.S. food group Kraft Foods Inc (KFT.N) to take over British confectionery maker Cadbury (CBRY.L).
Kraft faced pressure to raise its bid for Cadbury with extra cash as the market digested Tuesday's warning from key investor Warren Buffett and an initial deadline passed with few of the UK confectioner's shares changing hands.
Kraft (KFT.N) said it had a 1.52 percent take-up from Cadbury (CBRY.L) shareholders for its 10.5 billion pound ($16.8 billion) hostile bid, with analysts saying the U.S. food group will have to raise its offer to win.
Kraft said it had a 1.52 percent take-up from Cadbury shareholders for its 10.5 billion pound ($16.8 billion) hostile bid, with analysts saying the U.S. food group will have to raise its offer to win.