Law360, New York (January 06, 2010, 4:55 PM ET) -- The European Union's antitrust regulator signed off on Kraft Foods Inc.'s unsolicited $16.7 billion takeover bid for Cadbury PLC on Wednesday, following the U.S.-based food giant's offer to divest Cadbury's chocolate candy business in Poland and Romania.
The European Commission had worried that the high combined market share that Kraft and Cadbury hold in those countries, where the duo closely compete, might pose a competition threat. But the agency approved of Kraft's proposal to sell Cadbury's Wedel brand in Poland and domestic chocolate confectionary business in...
Kraft Wins EU Approval For Cadbury Takeover
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