Cadbury set to issue formal response to Kraft

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Related tags: Takeover, Cadbury, Kraft

Confectionery giant Cadbury said today that it would post a formal response to Kraft’s takeover offer of $16.3bn (£9.8bn) on 14 December.

Under US securities law, Cadbury is prohibited from publishing any further information, or making any further statement, until it has issued its formal response.

It has been three weeks since Kraft put forward its hostile offer for the British confectioner. Since then, other potential suitors for Cadbury have either come forward or been rumored to be considering an offer.

There has been speculation that Kraft could make a joint bid with either Hershey or Ferrero, that either or both could make an offer jointly or separately, and there has been media speculation that Nestlé could be considering a bid. There have also been rumors that Cadbury could consider making a ‘Pac-Man’ bid for Kraft’s confectionery business.

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