Cadbury Plc on Tuesday rebuffed US-based Kraft Food's "derisory" takeover offer, citing "outstanding" financial performance in 2009 and reiterated that shareholder value will be maximised if it remains an independent entity.
A majority of shareholders of the British confectioner Cadbury Plc have rejected the initial hostile takeover bid from Kraft Foods Inc.
Confectionery maker Cadbury, which has agreed to be acquired by US-based Kraft Foods, on Tuesday said India will remain a key market for its business.
The Kraft-Cadbury combine is likely to herald its presence in India with confectionery products. The reasons are evident.
The country will be the new battleground for the world's largest and second largest food companies
BSE has informed the members of the exchange that Cadbury India Ltd will be delisted with effect from January 20 pursuant to the compliance with SEBI (Substantial Acquisition of Shares and Takeovers Regulations 1997)
India's tax authorities began investigating Cadbury in 2011.
If you are not happy with the price offered at buybacks, you could be in for a long haul.
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