Tuesday 07:27 am Kraft (KFT) stands firm against Cadbury (CBY), questioning its bullish projections as a standalone company, and warning shareholders they'll be "taking a risk" if they rebuff Kraft's offer. "We have heard nothing from Cadbury that surprises us. Cadbury's Defence Document only reinforces our belief that there is a compelling strategic and financial rationale to combining these two companies."
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Monday 10:30 am Dow leaders after one hour: AA +1.3%. MRK +1.2%. HPQ +1.1%. CSCO +0.9%. DIS +0.9%. KFT +0.9%. Laggards: XOM -3.9%. WMT -1.3%. BAC -0.8%.
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Monday 09:07 am "Cadbury is an exceptional business worth much more than the offer put forward by Kraft," chairman Roger Carr says in Cadbury's (CBY) official response to Kraft's (KFT) £10B bid. "Kraft is trying to buy Cadbury on the cheap to provide much needed growth to their unattractive low-growth conglomerate business model. Don't let Kraft steal your company with its derisory offer."
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