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LONDON — Shareholders in British candymaker Cadbury are looking for a fat increase in the hostile takeover bid by Kraft Foods, as Kraft faces a deadline today for changes to its bid.
Cadbury shares moved above 800 pence in Monday trading, indicating the market was looking for Kraft to jump to that level or higher. Kraft’s $17.1 billion offer now values the British company at about 770 pence, an offer that Cadbury dismisses. The BBC reported Monday that Kraft may raise its offer to 840 pence to 850 pence a share, valuing Cadbury at around $19.1 billion.
