Cadbury Agrees To Takeover Following Improved Kraft Bid

Following five months of heated rhetoric US food giant Kraft looks set to absorb UK-confectionary firm Cadbury after upping its bid and winning the backing of the company's board. Kraft's revised bid is worth GBp840 per share, comprised of GBp500 in cash and the rest made up of Kraft stock; Cadbury shareholders will also be entitled to a special dividend of GBp10 per share. Kraft's bid values the UK firm at GBP11.6bn, representing a 10% improvement on its initial offer and with no competing bids emerging the improvement was enough to win Cadbury's support. The firm called on shareholders to

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