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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.