Kraft Foods Inc. to Publish Offer Documentation Related to Proposed Acquisition of Cadbury plc
Kraft Foods announces that the offer document, which contains the terms and conditions of the Offer and the procedures for acceptance, is being posted, together with the Form of Acceptance.
7 Dec 2009 --- On 9 November 2009, Kraft Foods Inc. announced its firm intention to make an offer to acquire all of the issued and to be issued share capital of Cadbury plc.
Kraft Foods announces that the offer document, which contains the terms and conditions of the Offer and the procedures for acceptance, is being posted, together with the Form of Acceptance. A prospectus relating to the New Kraft Foods Shares proposed to be issued in connection with the Offer (the "Prospectus") is expected to be approved by the Financial Services Authority in the UK and published on Kraft Foods' website (www.transactioninfo.com/kraftfoods).
The Offer is being communicated to Cadbury US Shareholders, Cadbury Canadian Shareholders and Cadbury ADS Holders by way of the "US Offer Document". The US Offer Document is also being filed with the US Securities and Exchange Commission and mailed, together with the relevant Form of Acceptance or ADS Letter of Transmittal, and will be available on the same Kraft Foods' website.
Commenting on the publication of the Offer documentation, the Chairman and CEO of Kraft Foods, Irene B. Rosenfeld, said:
"We remain confident that the unique combination of Kraft Foods and Cadbury would create a significant growth opportunity for both businesses. That's why we believe this Offer is in the best interest of both companies' shareholders. Our Offer is fully financed, represents a substantial premium to Cadbury's unaffected share price and provides both immediate value certainty and meaningful longer-term upside potential."