Kraft Foods Inc. (NYSE: KFT) offered about $16 billion to acquire U.K.-based Cadbury PLC (NYSE: CBY) which promptly rejected the bid as too low. Shares of Kraft fell $1.45 to $26.65 while Cadbury stock surged $14.36 to $51.82.
Kraft's $16 Billion Bid For Cadbury Rejected
September 08, 2009 at 13:15 PM EDT
