Kraft seeks OK for share sale

Kraft seeks OK for share sale

LOS ANGELES/NEW YORK (Reuters) - Kraft Foods will convene a meeting on February 1 to urge shareholders to approve a proposal to issue shares and bankroll its hostile bid for Cadbury . The news comes days after the UK chocolatier again rejected a hostile 10 billion pound offer from the maker of Oreo cookies and Velveeta, arguing the bid undervalues a company with solid growth prospects.

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