Birmingham-based chocolate maker releases an official defence document today to explain to its shareholders its rejection of a hostile bid from the giant US food firm Kraft.
The document says Kraft’s £9.8bn bid for the Birmingham-based chocolate maker “substantially undervalues” the company after a successful year of growth in all of its key markets “Cadbury is an exceptional business worth much more than the offer put forward by Kraft,” said Cadbury chairman Roger Carr within the note. “It is clear to all…
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