9/8/2009 10:20 PM ET Recommended Amazon Reading
(RTTNews) - Kraft Foods Inc. (KFT: News ) is in talks to arrange about $8 billion of financing for its bid to buy Cadbury Plc (CBY: News ,CBRY.L: News ), media reports on Tuesday citing to people familiar with the matter.
Citigroup Inc. and Deutsche Bank AG are working on setting up debt financing to cover about half of the 9.77 billion-pound, or $16 billion, offer to buy Cadbury. The financing would consist of a bridge loan to be repaid with the proceeds of an investment-grade bond offering, the people said.
Kraft said that Cadbury would struggle to stay independent if the UK confectionery group continues to spurn its £10.2 billion, or €11.6 billion, takeover approach.
However, several of Cadbury's largest shareholders indicated that they expected a higher offer, with some suggesting that an 850p offer, rather than the current 745p cash and shares proposal, could clinch a deal.
Related Links
Share Investor Blog - Stockmarket & Business commentary
Share Investor New Zealand Business News- Get more business news
Discuss this topic @ Shareinvestor.net.nz
Share Investor's Daily Forex Updates
Buffett: The Making of an American Capitalist by Roger Lowenstein
Buy new: $12.92 / Used from: $9.89
Usually ships in 24 hours
Kindle 2/Kindle DX: Amazon's New Wireless Reading Devices (Latest Generation)
0 comments:
Post a Comment