From The BBC:
US giant Kraft Foods has proposed buying UK confectionery firm Cadbury in a £10.2bn ($16.7bn) move.Kraft said that the purchase of the maker of Dairy Milk would protect jobs in the UK – including saving a factory earmarked for closure. Cadbury, whose shares leapt 36% on the news, had “unequivocally” rejected the approach, Kraft said. The US firm added it wanted to create “a global powerhouse in snacks, confectionery and quick meals”. Distribution savingsAs well as Dairy Milk, Cadbury also owns the Green & Black’s chocolate brand and Halls lozenges, Trident and Dentyne gum brands, and liquorice allsorts maker Bassett’s. It span off its drinks division as a separate business last year.
Kraft’s brands include Kenco coffee, Oreo biscuits, Terry’s Chocolate Orange and Toblerone as well as cheese products such as Philadelphia and Dairylea. The proposed deal would allow up to $625m a year to be saved in distribution, marketing and product development costs, Kraft said. It added tha…
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