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Kraft bid for Cadbury unchanged

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Kraft bid for Cadbury unchanged

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Kraft Foods has launched a hostile takeover bid for the British confectionery group Cadbury.

The US food giant keep the same terms as its informal cash and shares offer made in early September – which Cadbury rejected as too low. Now it is worth even less – 11 billion euros – as the value of Kraft’s shares has fallen since then. Analysts said Kraft needs to sweeten its offer to have any chance of shareholders saying yes.