The board of Cadbury, the UK food group, is preparing to meet on Monday amid expectations that Kraft will go hostile with its takeover offer. The US group is expected to stick close to the terms of its original £10.2bn ($16.9bn) offer and will either formalise its original cash-and-shares proposal, or increase it slightly. If Kraft formalises its existing proposal, its bid will be worth less than when the US food group announced the offer in early September, when it was worth 745p per Cadbury share. By Friday, it was worth 720p or £9.8bn.

This entry was posted by Gwen Robinson on Monday, November 9th, 2009 at 4:56 and is filed under Capital markets, M&A. Tagged with Cadbury, kraft. Edit this entry.