A quote from todays Telegraph
" Questions were being asked why it took Cadbury more than 5 months to report the contamination. Although the incident occured in january, the Foods Standard Agency was told only on Monday."
That timing is a good enough indicator for me.
Public announcement
This Cadbury bear is going into hibernation
I shall reappear, I know not when, but it wont be on Monday and thats for sure.

Berkshire Hathaway Votes 'No' To Kraft's Cadbury Funding Plan





DOW JONES NEWSWIRES

Berkshire Hathaway (BRK.A, BRK.B) voted against Kraft Foods Inc.'s (KFT) plans to issue up to 370 million shares to fund its bid for Cadbury PLC (CBY), in the latest hurdle for the U.S. food company to acquire the company.

Kraft Foods Inc. (KFT) sweetened its hostile takeover offer for Cadbury PLC (CBY) on Tuesday, offering to tweak the cash-and-share mix of its $16 billion bid, but Cadbury and some of its investors quickly dismissed the new bid as still too low.

Shares of Kraft, which wasn't immediately available to comment on Berkshire's statement, were up 1.8% at $27.92 in recent premarket trading.

Berkshire Hathaway, headed by investor Warren Buffett, said it holds about 138.3 million shares--or 9.4% of Kraft's shares--which it believes makes it the company's largest shareholder.

Berkshire said the share-issuance plan would "give Kraft a blank check allowing it to change its offer to Cadbury--in any way it wishes." It added that "we worry very much that, indeed, there will be an additional change from the revision announced this morning (Tuesday)."

The company also said, "What we know with certainty, however, is that Kraft stock, at its current price of $27, is a very expensive 'currency' to be used in an acquisition. In 2007, in fact, Kraft spent $3.6 billion to repurchase shares at about $33 per share, presumably because the directors and management thought the shares to be worth more."

However, Berkshire did note that Kraft has two weeks to announce a final offer for Cadbury. "If we conclude at that point that the offer does not destroy value for Kraft shareholders, we will change our vote to 'yes'" on the share-issuance plan.

Kraft bid for Cadbury dealt a blow after vote

Kraft's hostile takeover bid for Cadbury suffered a further upset this morning after it emerged that shareholders holding just 1.5 per cent in the British confectioner accepted the deal.

The chances of Kraft gaining control of Cadbury through the 10.5 billion bid have been hit by Cadbury investors refusing to accept the deal as it currently stands and the refusal of its biggest shareholder, the legendary investor Warren Buffett, to back a new share issue which could have helped to raise the offer.

From the BBC.

Cadbury agrees Kraft takeover bid

Cadbury is to be taken over by the American food company Kraft after its board approved a new increased bid, the BBC has learned.

The Cadbury board will advise its shareholders to accept a new offer of 840 pence a share - valuing the company at 11.5bn.

Cadbury shareholders will also receive a dividend of 10 pence a share, BBC business editor Robert Peston says.

The deal will bring to an end months of animosity between the two companies.

The offer will consist of 500 pence in cash, with the rest made of Kraft shares. Kraft will borrow 7bn ($11.5bn) to finance the deal.

Recommended Final Offer terms
* The board of Kraft Foods is pleased to announce the detailed terms of a
recommended Final Offer for Cadbury and the board of Cadbury unanimously
recommends Cadbury Securityholders to accept the terms of the Final Offer.
* Under the terms of the Final Offer, Cadbury Securityholders will be entitled to
receive:

for each Cadbury Share 500 pence in cash
and
0.1874 New Kraft Foods Shares
for each Cadbury ADS 2,000 pence in cash
and
0.7496 New Kraft Foods Shares
representing, in aggregate, 840 pence per Cadbury Share and GBP 33.60 per
Cadbury ADS.


* In addition, Cadbury Shareholders will be entitled to receive 10 pence per
Cadbury share by way of a Special Dividend following the date on which the Final
Offer becomes or is declared unconditional.

* The terms of the Final Offer reflect the strength of Cadbury's business, its
brands and the future potential for growth through the combination of Kraft
Foods and Cadbury.

Thanks to Gordon Brown...another British company taken over by foreigners...


The takeover bid has created a huge outpouring of resentment against foreign takeovers of British companies, particularly in Cadburys Birmingham birthplace. In the past four years, more than 292 billion has been spent by foreign companies buying British rivals.

During the past decade, household names such as P&O, O2, Abbey, BAA, Jaguar Land Rover, the glass manufacturer Pilkington and the steelmaker Corus have all succumbed to foreign takeovers, along with a clutch of electricity and water companies. But few have aroused as strong feelings or emotions as the Cadbury bid.

Be afraid Kraft :-) Gordon Brown warns America's Kraft over Cadbury job cuts

Kraft would convert Gordon Brown into hash browns.

Perhaps more lost votes for brown.

.

What has Gordon Brown got to do with it, hlyeo98?

Chocolate is brown. :o)

Things not going well?

PRESS RELEASE: Kraft Foods Reduces Cadbury Acceptance Condition To 50% Plus One Share


The following is a press release from Kraft Foods:

NORTHFIELD, Ill., Jan. 27 /PRNewswire-FirstCall/ -- Further to its announcement on 19 January 2010, Kraft Foods Inc. ("Kraft Foods") announces that it has now reduced the number of acceptances required to fulfil the Acceptance Condition of the recommended Final* Offer for Cadbury plc ("Cadbury") from 90 per cent. to 50 per cent plus one Cadbury Share.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090420/KRAFTLOGO)

Other than as expressly set out in this announcement, capitalised terms used in this announcement shall have the meaning given to them in the Final Offer Document published by Kraft Foods on 19 January 2010.

*The Offer is final and will not be increased, except that Kraft Foods reserves the right to increase the Offer if there is an announcement on or after 19 January 2010 of an offer or a possible offer for Cadbury by a third party offeror or potential offeror.

Cadbury workers to mount protest at Kraft deal

Cadbury employees will protest in Bournville, the historic home of the confectioner in the UK, this morning against possible job cuts after the planned 11.9 billion takeover by Kraft Foods.

Unite, the union, says that Kraft, the American food group, must give assurances that the interests of the workforce will not be swept aside in the deal, and that the quality of much-loved products will be safeguarded.

Cadbury's Bristol plant to close by 2011

Cadbury's new owner, Kraft, says it plans to close the company's Somerdale factory in Keynsham, near Bristol.

Just last week it said it would keep it open. The shutdown would mean the loss of 400 jobs.

Cadbury had earmarked the plant for closure but Kraft's takeover had raised hopes of a reprieve.

Kraft cuts 200 jobs at Bournville, Chirk and Marlbrook

Food giant Kraft Foods is to cut 200 jobs alongside plans to spend 50m on chocolate and biscuit manufacturing.

The firm, which owns Cadbury, said jobs would go at sites at Bournville, Birmingham, Chirk in Wrexham, north Wales, and Marlbrook in Herefordshire.