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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology US authorities approve Kraft bid for Cadbury AFP - Tuesday, December 15 Send IM Story Print Cadbury Chairman Roger Carr gives a press conference at Goldman Sachs in London on December 14. US competition authorities have approved a bid by Kraft Foods to acquire British confectioner Cadbury, the US food giant said Tuesday. LONDON (AFP) - – US competition authorities have approved a bid by Kraft Foods to acquire British confectioner Cadbury, the US food giant said Tuesday in a note to the London Stock Exchange. On Monday Cadbury management rejected the takeover offer, describing the formal bid as "inadequate" and ramping up its defences. The European Union is to rule on the takeover bid by January 6. The US group launched its hostile move last month and has been repeatedly snubbed by Cadbury management. Earlier this month, Kraft appealed directly to shareholders with details of its cash and shares bid, now worth 9.9 billion pounds (11 billion euros, 16.1 billion dollars), down from an initial 10.2 billion pounds. Shareholders have until January 5 to accept the Kraft offer. Kraft is the world's second biggest snacks group after Nestle. Cadbury is meanwhile the second largest confectionery company behind Mars. A tie-up between Kraft and Cadbury would merge leading Kraft brands Oreo biscuits and Maxwell House coffee with Cadbury's Dairy Milk chocolate and Trident chewing gum. Recommend Send IM Story Print News Search Top Stories BA takes legal action to prevent Christmas strikes Boeing's Dreamliner to make first flight Tuesday Greek promise of cutbacks leave analysts sceptical Coconut-carrying octopus stuns scientists US authorities approve Kraft bid for Cadbury More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Dubai to pay debt with $10 billion Abu Dhabi fund Boeing's Dreamliner to make first flight Tuesday Plastics component affects intestine: study Courtney Love loses custody of daughter: court Tiger Woods' girlfriend apologizes in TV interview More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Virgin unveils spaceship to offer space tourism Tiger Woods' girlfriend apologizes in TV interview Dubai blackout over debt plans to hit Gulf markets More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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