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Page last updated at 17:47 GMT, Monday, 9 November 2009

Cadbury rejects hostile Kraft bid

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UK confectioner Cadbury has rejected a £9.8bn ($16.4bn) hostile bid from US food giant Kraft, calling the offer "derisory".

Kraft offered a mixture of cash and shares for each Cadbury share - the same terms it proposed in September. As Kraft shares have dropped in value since then, the bid is now worth less than the original £10.2bn approach.

Hugh Pym reports.

READ MORE: Cadbury rejects hostile Kraft bid

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