Kraft Makes Takeover Case To Cadbury Shareholders

Law360, New York (December 4, 2009, 5:40 PM EST) -- Kraft Foods Inc. filed its formal offer documents for Cadbury PLC shareholders with the U.S. Securities and Exchange Commission on Friday, the latest step as Kraft seeks to convince the candy maker's investors to accept an unsolicited $16.7 billion takeover bid.

U.K.-based Cadbury rejected the deal in September, saying the offer undervalued the company. Kraft then said in November that it would take the deal directly to shareholders, offering $4.90 per share and 0.2589 shares of new Kraft stock for each share of Cadbury.

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