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Cadbury rejects hostile Kraft bid

Cadbury rejects hostile Kraft bid

UK confectioner Cadbury has rejected a £9.8bn ($16.4bn) hostile bid from US food giant Kraft, calling the offer "derisory".Kraft offered a mixture of cash and shares for each Cadbury share - the same terms it proposed in September. As Kraft shares have dropped in value since then, the bid is now worth less than the original £10.2bn approach.Juliana Liu reports.

BBC | November 9, 2009Watch more videos from BBC

Tags:. .confectioner. .cadbury. .liu. .kraft

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