The Times of London reports that Kraft (NYSE:KFT) will raise its bid for Cadbury (NYSE:CBY).
Cadbury trades above the amount of the Kraft offer price and several companies including Italian confectioner Ferrero are rumored to be preparing rival bids for the UK firm.
The turnaround effort mounted by Kraft CEO Irene Rosenfeld has faltered. Kraft might as well buy a company that is better run. Perhaps the board of the Kraft could put Cadbury’s management in place to run the combined entity.
Douglas A. McIntyre
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