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.
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
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.
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