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DJ CADBURY WATCH: Kraft Bid Worth 720P A Share As Of Nov 19

Posted on: Fri, 20 Nov 2009 03:08:00 EST

Symbols: KFT, CBY

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Kraft said in a statement it was offering Cadbury shareholders 300 pence in cash and 0.2589 new Kraft shares for each Cadbury share. The terms are identical to the proposal rejected by Cadbury as too low at the start of September.

The cash and share offer originally valued Cadbury at GBP10.2 billion, or 745 pence a share though a subsequent fall in Kraft's share price and the U.S. dollar has since weakened the value of the bid.

Kraft's stock closed up 1.1% at $26.97 Thursday, which means its bid for Cadbury is now worth 720 pence a share and values the U.K. company at GBP9.9 billion, or $16.4 billion. Cadbury shares closed down 0.8% at 791 pence. -0-

(MORE TO FOLLOW) Dow Jones Newswires

11-20-09 0308ET

For full details on Kraft Foods Inc (KFT) KFT. Kraft Foods Inc (KFT) has Short Term PowerRatings at TradingMarkets. Details on Kraft Foods Inc (KFT) Short Term PowerRatings is available at This Link.

For full details on Cadbury Plc (CBY) CBY. Cadbury Plc (CBY) has Short Term PowerRatings at TradingMarkets. Details on Cadbury Plc (CBY) Short Term PowerRatings is available at This Link.

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