Well, it is done, mostly. After opening its mouth a little wider than during its first attempt, Kraft is poised to swallow British chocolate maker Cadbury. Kraft had to increase its offer from 761p to 840p per share and add a 10p per share dividend. Last night, Cadbury’s chairman Roger Carr agreed to recommend to its shareholders to accept this offer.
Although it is still possible for Hershey to make a competing bid as was reported over the weekend, it is unlikely that it will match this offer which is right in line with what Cadbury shareholders expected. Besides, Kraft is about five times the size of Hershey.
