EU Extends Review Of Kraft Bid For Cadbury

Law360, New York (December 9, 2009, 3:03 PM EST) -- The European Commission extended its deadline to review Kraft Foods Inc.'s unsolicited $16.7 billion takeover bid for Cadbury PLC by 10 working days on Wednesday, after the food giant submitted proposed antitrust remedies to the regulator.

Kraft's first-phase commitments pushed the deadline from Dec. 14 to Jan. 6, the commission said without further comment.

The company expects to have a decision from the regulator on its bid for the U.K.-based candy giant by that deadline, according to Kraft spokesman Michael Mitchell.

Mitchell described the merger as...
To view the full article, register now.