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Cadbury descendant says Kraft bid "horror story"

LONDON, Oct 4 (Reuters) - A member of the Cadbury CBRY.L family has described Kraft's KFT.N takeover bid for the British confectionery group as a "horror story."

In comments to the Sunday Telegraph, Felicity Loudon, whose grandfather Egbert Cadbury was managing director of Cadbury Brothers, said she believed it was worth fighting to keep Cadbury out of the hands of North America’s biggest food group.

“As a Cadbury I obviously feel particularly saddened by the possibility of one of the last remaining British icons disappearing into an American plastic cheese company.”

Kraft, whose brands include Milka chocolate and Oreo biscuits, has until Nov 9 to make a formal offer for Cadbury. [ID:nLU090041]

The British group rejected Kraft’s cash and shares approach, initially worth 10.2 billion pounds ($16.22 billion), at the start of September.

Loudon told the paper she was unsure if opposition to the bid can be mobilised from the family as she owns only a small number of Cadbury shares and is not particularly close to her brother and half-brothers.

Reporting by Victoria Bryan; editing by John Stonestreet

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