Cadbury to respond to Kraft offer on December 14
LONDON (Reuters) - British confectioner Cadbury said on Monday it would post a formal response to Kraft's $16 billion takeover offer on December 14.
"Under U.S. securities law, Cadbury is prohibited from publishing any further information, or making any further statement, until it has issued its formal response," the company said in a statement.
Cadbury said its response would also include the company's regular pre-close trading update.
Kraft last week made its formal offer for the chocolate maker, triggering a two-month takeover fight and a frosty response from Britain.
Cadbury consistently rejected Kraft's preliminary approaches, forcing the U.S. food giant to turn hostile in November and go directly to Cadbury shareholders with its plan for creating the world's largest confectionery group.