Kraft, Cadbury close to £11.7 billion friendly deal

Kraft, Cadbury close to £11.7 billion friendly deal

CHICAGO/LONDON (Reuters) - U.S.-based Kraft Foods Inc and Cadbury Plc are close to sealing a friendly deal to create the world's largest confectionery group for up to 11.7 billion pounds, sources familiar with the matter said on Monday. Cadbury had steadfastly rejected Kraft's previous 10.5 billion pound hostile takeover bid since a brief conversation between the two sides in late August.

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