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Tue 09 Sep 2009Cadbury rejects £10.2bn proposal from Kraft Foods
KRAFT FOODS yesterday went public with a £10.2 billion (€11.7 billion) cash and shares offer for Cadbury after the British confectionery brand rejected the US foods group’s proposal.
The proposed offer comprised 300p a share in cash and 0.2589 new Kraft shares for every Cadbury share, valuing the British group at 745p a share in total – a 31 per cent premium to Cadbury’s closing share price last Friday.
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