Investing
Kraft Makes Friends With Cadbury, Buffett Loses
Published:
Last Updated:
The rumor mill is at work. Kraft (NYSE:KFT) may have entered friendly talks with Cadbury (NYE:CBY) to end the ongoing battle caused by the American company’s hostile takeover offer for the UK firm.
The news, if true, would be good for Cadbury’s shareholders because the premium to close the deal should be well above the current offer and should include more cash.
Bad news for Warren Buffett, who owns a piece of Kraft, but thinks the Cadbury offer is too rich. Hershey (NYSE:HSY), which spent a lot of money on investment banking fees is left holding bag. It just got into the action too late to count.
The projected price tag to close the Cadbury deal–the media says $19 billion.
Douglas A. McIntyre
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.