Cadbury shares dipped below Kraft Foods' 10.6 billion-pound ($17 billion) bid price for the first time on Thursday as prospects of a rival bid receded and analysts reckoned Kraft now needed only to slightly sweeten its offer to win.
U.S. stock index futures pointed to a lower opening on Wall Street on Thursday, with futures for the S&P 500, the Dow Jones industrial average and Nasdaq 100 down 0.4 to 0.5 percent.
Cadbury shares dipped below the level of Kraft Foods' 10.6 billion-pound ($17 billion) bid for the first time on Thursday as prospects of a rival bid receded and analysts reckoned Kraft now needs only to slightly sweeten its offer to win.
Members of Cadbury Plc's board have been talking with counterparts at Hershey Co as expectations fade for a significantly higher bid from Kraft Foods Inc .
Members of Cadbury Plc's board have been talking with counterparts at Hershey Co as expectations fade for a significantly higher bid from Kraft Foods Inc .
Members of Cadbury Plc's board are talking with counterparts at Hershey Co and other potential bidders as hopes wane for a significantly higher bid from Kraft Foods Inc .
The European Commission said on Wednesday it had given conditional approval for U.S. food group Kraft Foods Inc (KFT.N) to take over British confectionery maker Cadbury (CBRY.L).
Kraft faced pressure to raise its bid for Cadbury with extra cash as the market digested Tuesday's warning from key investor Warren Buffett and an initial deadline passed with few of the UK confectioner's shares changing hands.
Kraft (KFT.N) said it had a 1.52 percent take-up from Cadbury (CBRY.L) shareholders for its 10.5 billion pound ($16.8 billion) hostile bid, with analysts saying the U.S. food group will have to raise its offer to win.
Kraft said it had a 1.52 percent take-up from Cadbury shareholders for its 10.5 billion pound ($16.8 billion) hostile bid, with analysts saying the U.S. food group will have to raise its offer to win.
Warren Buffett came out against Kraft's $16.8 billion hostile offer for Britain's Cadbury as a threat to shareholder value, undermining the U.S. foodmaker's attempt to woo investors with a sweeter bid.
Kraft sweetened its $16.8 billion offer for Britain's Cadbury and a potential rival stood aside, but just hours later the U.S. food firm's influential top shareholder threatened to vote against the deal.
Kraft sweetened its $16.8 billion offer for Britain's Cadbury and a potential rival stood aside, but just hours later the U.S. food firm's influential top shareholder threatened to vote against the deal.
Warren Buffett's Berkshire Hathaway Inc issued a stern warning to Kraft Foods Chief Executive Irene Rosenfeld, saying it opposed the food maker's plan to float new shares in pursuit of Cadbury Plc .
Kraft Foods sweetened its 10.2 billion pound ($16.43 billion) hostile offer for Cadbury with cash, which may well be enough to land the British group, as long as rivals stay out of the race.
Nestle ruled itself out of a bid war over Cadbury and Kraft sweetened its $16.4 billion offer, but the U.S. food firm's biggest shareholder Warren Buffett warned it not to overpay.
Nestle ruled itself out of a bid war over Cadbury and Kraft sweetened its $16.4 billion offer, but the U.S. food firm's biggest shareholder Warren Buffett warned it not to overpay.
Berkshire Hathaway Inc said it voted against Kraft Food Inc's proposal to authorize the issuance of up to 370 million shares to help the food maker buy Cadbury , but could reverse to a yes vote, depending on the final offer's details.
Nestle ruled itself out of a bid war over Cadbury and Kraft sweetened its $16.4 billion offer with a bigger cash portion, raising expectations the U.S. food group will win its prize.
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Nestle ruled itself out of a bid war over Cadbury and Kraft sweetened its $16.4 billion offer with a bigger cash portion, raising expectations the U.S. food group will win its prize.
Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fell 0.02 to 0.2 percent, pointing to a weaker start on Wall Street on Tuesday.