E.U. extends review date for Kraft-Cadbury deal
December 09, 2009
by Bakingbusiness Staff
BRUSSELS, BELGIUM — The European Commission today said it would extend its deadline for examining Northfield, Ill.-based Kraft Foods Inc.’s £9.8 billion ($16.3 billion) takeover bid of London-based Cadbury P.L.C. to Jan. 6 from Dec. 14. The E.C. provided no details on why it was extending the deadline other than to note that Kraft has put forward possible changes to its bid in order to ease antitrust concerns.
Cadbury P.L.C. earlier this week said it will publish its formal response to the Kraft proposal on Dec. 14.