WBEZ brings you fact-based news and information. Sign up for our newsletters to stay up to date on the stories that matter.Cadbury’s board has accepted a revised takeover bid from north suburban Kraft.
Kraft has increased its offer to buy Cadbury to $19.5 billion. In a report released today, Kraft says Cadbury’s board unanimously recommends its shareholders accept the deal. As early as last week, Cadbury’s chairman Roger Carr had denounced Kraft’s hostile takeover bid as “unattractive.” But Carr says he’s now pleased with the deal.
Shareholders have until early next month to make a decision on the bid. There’s talk that U.S. chocolate company Hershey is also interested in Cadbury and could make a rival bid.