Kraft Foods prepares for hostile step

Kraft Foods is preparing to make a hostile takeover bid for British Cadbury confectionery manufacturer. According to City sources, the world's second largest food giant, the Kraft Foods offer would asses the British company for 11 billion pounds.

The hostile takeover bid would arouse surprise at this stage, because Kraft Foods has not submitted a formal application for the purchase of the Cadbury. Kraft Foods made a non official offer of 10.2 billion pounds three weeks ago, but Cadbury's leadership immediately rejected on the grounds, that the proposed purchase price is "essential understates the extent" of the company.
Cadbury was founded in 1824, its most famous product is the Dairy Milk chocolate, which exists since 1905 – reports Népszabadság Online after The Observer.