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Kraft’s Cadbury bid review deadline delayed

09-Dec-2009

Related topics: Suppliers, Kraft's Cadbury bid

European regulators have pushed back the deadline for their review of Kraft’s $16.1bn bid for Cadbury after the American company offered concessions, they said on Wednesday.

 

The European Commission has extended the deadline by ten working days from December 14 to January 6, its daily list of mergers and takeovers under review showed. This is in order to review concessions put forward by Kraft to help ease anti-competition concerns, although European regulators did not give further details.

 

A Kraft takeover of Cadbury would create the biggest confectionery maker in the world – a title that was held by Cadbury until Mars acquired Wrigley in April last year.