Kraft offered a takeover deal with £7.55 per share for Cadbury , Board of Cadbury rejected the deal
Kraft went to public bid
7 September 2009
Kraft's went to public, offered a price for Cadbury £3 cash+ 0.2589 new Kraft shares per share (£7.45 per share, 31% over its current price £5.68), Cadbury says the offer "fundamentally undervalues" the company.
Cadbury's chairman said they were under valued
12 September 2009
Cadbury's chairman sent a letter to Kraft said Cadbury cannot be undervalued just because Cadbury running a low growth business.
Cadbury contacted UK takeover Panel
21 September 2009
Cadbury insist Kraft offer too low and ask UK takeover Panel make rules on Kraft's takeover, which requires Kraft either makes a formal move on its £10.2billion approach or walk away for at least six months.
UK takeover Panel notice the deadline for Kraft
30 September 2009
Deadline for Kraft to have a formal bid with Cadbury is November 9th, 2009
Cadbury's third-quarter came out
21 October 2009
Based on their quarterly figures, Cadbury raised its sales and margin targets for this year, which was trying to push Kraft make further formal deal on the takeover deal.
Kraft went hostile
9 November 2009
Kraft still offer the same deal as before £3 cash+ 0.2589 Kraft shares for each share, which only worth £7.17 per share due to the decreasing of Kraft share price. Cadbury rejected the derisory bid.