U.S. food group Kraft Foods Inc (KFT.N) is set to clear a hurdle in its hostile 10 billion pound takeover bid for Cadbury (CBRY.L) by winning EU approval this week, a source familiar with the situation said on Monday.
Kraft Foods is preparing to sweeten its hostile 10 billion pound ($15.9 billion) takeover bid for British confectionery maker Cadbury , reported the Sunday Times.
Italian confectioner Ferrero has met with private equity firms as well as Hershey Co to discuss a possible bid for Britain's Cadbury Plc , Il Sole 24 Ore daily reported on Saturday.
Britain's Takeover Panel granted confectionery maker Cadbury three extra days to publish 2009 results that could become a key plank in its defense against Kraft Food's hostile 10 billion pound ($15.9 billion) bid.
(Corrects bid currency in first paragraph to pounds from dollars. Adds dollar conversion)
Italian chocolate giant Ferrero is still examining its options on a possible bid for Britain's Cadbury PLC.
Italian chocolate giant Ferrero said it is still examining its options on a possible bid for Britain's Cadbury PLC , daily La Stampa reported on Sunday.
Kraft Foods Inc (KFT.N) will convene a meeting on February 1 to urge shareholders to approve a proposal to issue shares and bankroll its hostile bid for Britain's Cadbury Plc (CBRY.L).
(Deletes incorrect references in paragraphs 1 and 4 to Barclays winning a larger role as a Kraft adviser, as Kraft has denied that has happened)
Barclays Capital, one of the banks providing $9.2 billion of loans to help fund Kraft Foods Inc's hostile bid for Britain's Cadbury Plc , has suspended coverage of Cadbury because of its role.
Barclays Capital, one of the banks providing $9.2 billion of loans to help fund Kraft Foods Inc's hostile bid for Britain's Cadbury Plc , has won a bigger role as one of Kraft's financial advisers.
British confectioner Cadbury said on Wednesday it had insured 500 million pounds ($813 million) of pension liabilities in a deal allowing it to keep control of the scheme's assets.
Rather than talk about sweetening its 789 pence-per-share offer for Cadbury — say, to the 820-850 pence level analysts think is needed — Kraft is urging shareholders to take a long hard look at Cadbury's revenue growth targets
Kraft Foods Inc said new growth targets from Cadbury Plc were not enough to prompt it to raise its takeover offer, while workers for the British chocolatier said they would fight the 10 billion pound ($16.2 billion) hostile bid.
British and Irish Cadbury workers kicked off a campaign to fight a hostile bid from Kraft Foods on Tuesday vowing to pressure the UK government to do what it can to resist the bid.
Kraft Foods has vowed to maintain discipline in its pursuit of British chocolatier Cadbury , suggesting the U.S. group will resist raising the level of its hostile approach.