Cadbury Board Urges Shareholders to Reject Kraft Offer

Cadbury’s board of directors is recommending its shareholders reject Kraft Foods’ $16.3 billion hostile takeover bid, saying it’s too low to come close to reflecting Cadbury’s true value.

LONDON — Cadbury’s board of directors is recommending its shareholders reject Kraft Foods’ $16.3 billion hostile takeover bid, saying it’s too low to come close to reflecting Cadbury’s true value.

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