Cadbury Plc's board agreed to an 11.9 billion-pound ($19.7 billion) takeover offer from Kraft Foods Inc., ending more than four months of resistance after the U.S. company raised its bid.
Cadbury investors will get 840 pence a share, including 500 pence in cash and the rest in stock, Kraft said in a statement today. Cadbury will also pay its holders an additional 10-pence dividend once the offer is unconditional. The revised bid is about 9 percent higher than Kraft's previous bid of 769 pence, and consists of 40 percent stock and 60 percent cash.
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