Tuesday, January 19, 2010
Keep Cadbury Birtish! ... or not. I suppose everything has its price, even national icons. In this case, the price is about $19 billion. Cadbury's board just unanimously recommended Kraft's offer to its shareholders. Summary of the terms from the Kraft "micro-site" is below:
- Under the terms of the Final Offer, Cadbury Securityholders will be entitled to receive:
representing, in aggregate, 840 pence per Cadbury Share and GBP 33.60 per Cadbury ADS.
for each Cadbury Share 500 pence in cash
0.1874 New Kraft Foods Shares
for each Cadbury ADS 2,000 pence in cash
0.7496 New Kraft Foods Shares
- In addition, Cadbury Shareholders will be entitled to receive 10 pence per Cadbury share by way of a Special Dividend following the date on which the Final Offer becomes or is declared unconditional.