Cadbury Agrees to Kraft Bid

By Chuck Sudo in Food on Jan 19, 2010 3:40PM

British candy maker Cadbury agreed in principle to a $19.5 billion offer from Kraft Foods. The news comes two weeks after Kraft sold its frozen pizza business to Nestle and proposed the authorizing of up to 370 million shares of stock to sweeten an offer Cadbury previously called "derisory."

there is still a chance that the deal could fall through, but it is a slight possibility, at most. the proposed merger culminates a four-month quest by Kraft CEO Irene Rosenfeld to obtain the company.