Kraft's bid for Cadbury 'derisory'
Updated on 09 November 2009
A £9.8 billion hostile takeover bid from US food giant Kraft has been labelled "derisory" by Dairy Milk maker Cadbury.
Kraft - the company behind brands including Dairylea and Kenco coffee - appealed directly to Cadbury's investors after its initial approach was rejected by the board in September.
But it refused to improve the terms of its cash-and-shares offer, which is now lower than two months ago due to falls in the Kraft share price.
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