Kraft and Cadbury have finally reached an agreement and it's a sweet deal for someone depending whether it's better to give or receive. Kraft has reportedly agreed to pay about $19 billion in cash and stock to acquire British confectioner, Cadbury.
Back in November,2009, Cadbury rejected a $16.4 billion bid from Kraft Foods Inc. Kraft refused to increase the previous offer and Cadbury called it a hostile bid.
Although the agreement, which comes on the heels of four months of negotiations, has been made it can unravel. Nothing has been signed as of yet and the intense negotiations have not always been as smooth as Cadbury chocolate.
Nestle, Hershey and Ferrero all threw their hats in the ring early on but Kraft held on by being the big buyer on the block. Kraft is presently the largest food company in the United States.
The takeover agreement between Kraft and Cadbury is expected to be announced as soon as Tuesday morning, January 18, 2010.
Written by Cheryl Phillips
HULIQ.com
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