Kraft, the largest US food maker, has warned that Cadbury will struggle to stay independent if the UK confectionery group continues to spurn its £10.2bn takeover approach, reports the FT. Irene Rosenfeld, Kraft’s chief executive, told analysts it would be hard for Cadbury to go it alone but declined to elaborate on prospects of a hostile bid. Some top  Cadbury shareholders said they expected a higher offer, possibly at 850p, rather than the current 745p proposal. Bloomberg, meanwhile, reports that Kraft is in talks to arrange about $8bn of financing for its bid.

This entry was posted by Gwen Robinson on Wednesday, September 9th, 2009 at 5:56 and is filed under Capital markets, M&A. Tagged with Cadbury, kraft. Edit this entry.