Kraft (KFT) says Cadbury (CBY) rejected its £10.2B ($16.73B) acquisition offer, but that it remains committed to reaching a deal. The bid (300 pence in cash and 0.2589 KFT shares per CBY share) represents a 31% premium to Cadbury's Friday close. The giant combo would have $50B in yearly revenue. CBY +37% in London. KFT -2.3% in Frankfurt.