UK Panel Limits Kraft's Window For New Cadbury Bid

Law360, New York (September 30, 2009, 1:05 PM EDT) -- The panel that oversees mergers and acquisitions for Britain has ruled that U.S. food conglomerate Kraft Foods Inc. has only a few weeks left to pursue Cadbury PLC following the rejection of its initial $16 billion bid by the British candymaker's board.

On Wednesday, Britain's Takeover Panel ruled that the company had until Nov. 9 to decide whether to make an offer or else it must retreat for six months.

A representative from Kraft indicated that the company has noted the decision and understands the implications...
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