Cadbury rejects takeover offer

graeme at 3:39 p.m. Mon 09 Nov 2009

Kraft has, as expected, made a hostile offer for Cadbury.

The 717p cash and shares offer is a significant premium to the level at which Cadbury shares were trading before the offer (they have not gone above 600p since January).

The exact value of the offer will vary with Kraft’s share price and the dollar exchange rate.

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