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Four days and counting for Kraft Foods

Some of the largest institutional shareholders in the UK have rallied round under pressure UK outfit Cadbury suggesting that the current bid from Kraft Foods significantly undervalues the company. The cash and shares offer from Kraft Foods values Cadbury at around £7.20 a share although there is intense speculation that over the next four days we will see an increased bid for the US outfit.

The likes of Legal and General have stepped forward with their comments on the situation confirming that they will not accept the offer and believe it should be increased. There is intense speculation that we could see an offer in excess of eight pound a share over the next four days as we approach the deadline for new bids or increased offers. Now that Kraft Foods has come so far it is inconceivable to many investors that they will walk away without increasing their offer although in current market conditions nothing is ever certain.

Speculation and rumours are still circulating regarding smaller US competitor Hershey which is believed by many to want to make a bid for Cadbury but may struggle financially. Whatever happens with regards to the Cadbury takeover saga the next four days will be pivotal to the future of this respected UK outfit.

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