Kraft Foods is persisting in its waiting game as a deadline for its acquisition of British confectioner Cadbury nears, and many see a formal bid coming in close to its tight first offer.
Kraft Foods Inc, which has secured a $9 billion bridge loan backing an expected bid for UK confectioner Cadbury, has been contacted by more banks keen to join the deal, senior bankers said on Wednesday.
Kraft Foods Inc faces a tougher task winning over Cadbury Plc shareholders after disappointing results reinforced the view that it will formalize its existing offer for the British chocolatier next week rather than present a higher bid.
U.S. food group Kraft will be willing to pay only 800 pence a share for Cadbury after Kraft's CEO cautioned on overpaying for the British confectionery group, Investec Securities said on Wednesday.
Kraft faces a tougher task winning over Cadbury shareholders in its bid battle after disappointing results late Tuesday cut analyst estimates of what it could afford to pay for Cadbury.
Kraft Foods Inc said it would not overpay for British chocolatier Cadbury Plc on Tuesday after disappointing investors by posting weaker-than-expected quarterly revenue and cutting its full-year sales forecast.
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Kraft Foods Inc , which posted weaker-than-expected quarterly revenue and cut its full-year sales forecast on Tuesday, said it would not overpay for British chocolatier Cadbury Plc .
Kraft Foods Inc posted a quarterly profit that beat analysts estimates, less than a week before the Oreo cookie maker is expected to formalize its bid for British chocolatier Cadbury Plc .
Kraft Foods Inc posted weaker-than-expected quarterly revenue and cut its full-year sales forecast on Tuesday ahead of a deadline to make a formal bid for British chocolatier Cadbury Plc .
Kraft Foods Inc posted a quarterly profit that beat analysts estimates, less than a week before the Oreo cookie maker is expected to formalize its bid for British chocolatier Cadbury Plc .
Kraft Foods Inc will need to show progress in cutting costs and improving organic revenue when it reports earnings on Tuesday, in a bid to convince Cadbury shareholders it is a viable deal partner.
The clock will really start ticking on a deal to create the world's biggest confectioner once Kraft Foods Inc reports earnings next week.
Cadbury Plc investor Mario Gabelli has given further encouragement to Kraft Foods Inc that a bid for the British confectioner could succeed if pitched around 820 pence.
Cadbury Plc investor Mario Gabelli has given further encouragement to Kraft Foods Inc that a bid for the British confectioner could succeed if pitched around 820 pence.
Cash-rich Nestle SA, the world's biggest food group, said it was speeding up a programme to buy back shares and was likely to raise fresh funds from the sale of its stake in eye care firm Alcon.
