TIMELINE-Kraft set to seal Cadbury deal

Feb 2 (BestGrowthStock) – Kraft Foods (KFT.N: ) is set to seal its
takeover of Cadbury (CBRY.L: ) by around 1700 GMT Tuesday.
[ID:nLDE6111CO]

Here are some key events in the takeover:

Aug 28, 2009 – Kraft’s Chairman and CEO Irene Rosenfeld
meets Cadbury’s Chairman Roger Carr to outline a takeover deal
in cash and shares which valued Cadbury’s shares at 755 pence
each, but Carr dismisses the approach. The Kraft bid is worth
300 pence in cash and 0.2589 new Kraft shares for each Cadbury
share.

Sept. 7 – Kraft goes public with the bid, which by this time
has slipped in value to 745 pence or 10.2 billion pounds.
Cadbury promptly rejects the bid.

Sept. 12 – Carr again rejects the “unappealing prospect”
being absorbed into Kraft’s “low growth conglomerate business.”

Sept. 16 – Warren Buffett, the world’s second richest man
and a leading shareholder in Kraft with a 9.4 percent stake,
warns the U.S. food group not to overpay for Cadbury.

Sept. 23 – Cadbury CEO Todd Stitzer is reported as saying he
sees some potential benefits from a deal and discusses
valuations with investors.

Sept. 25 – Stitzer says Kraft’s offer does not make
strategic or financial sense. Cadbury said his previous remarks
were misconstrued.

Oct. 21 – Cadbury posts upbeat Q3 trading report with
underlying sales up 7 percent as it raise its 2009 target for
sales and profit margin growth.

Nov. 3 – Kraft’s Q3 results disappoint investors with
weaker-than-expected revenue and a cut in its 2009 sales
forecast.

Nov. 18 – Both Italy’s Ferrero and Hershey say separately
they are reviewing a possible bid for Cadbury.

Nov. 23 – Cadbury shares hits all-time high of 819-1/2 pence
on speculation about rival bids.

Dec. 4 – Kraft posts its offer document to Cadbury
shareholders and says its bid is now worth 713 pence a share or
10.1 billion pounds ($16.09 billion).

Dec. 14 – Cadbury issues its official defence document
promising bigger dividends and strong growth; reminds its
shareholders that Hershey and Ferrero may bid.

Dec. 18 – Stitzer says a significant number of its major
shareholders do not believe Kraft’s bid reflects Cadbury
stand-alone value.

Jan. 5, 2010 – Kraft sweetens bid with 60 pence more cash
but cuts shares on offer to keep offer price unchanged.

Jan. 12 – Cadbury reports robust trading and rejects the bid
on valuation. Ferrero pulls out.

Jan. 19 – Kraft seals a friendly deal to buy Cadbury for
about $19.6 billion (11.9 billion pounds).

Jan. 22 – Hershey rules out making a rival bid for Cadbury.

Investment Research

(Reporting by David Jones; Additional writing by Carl Bagh;
Editing by David Cutler and David Cowell)
($1=.6106 Pound)

TIMELINE-Kraft set to seal Cadbury deal