Kraft bids for United Biscuits

Related tags United biscuits Groupe danone Kraft foods Nabisco

The largest US food company Kraft Foods has approached the
consortium of shareholders that owns Britain's United Biscuits with
a buy-out plan, according to British paper The Business.

North America's biggest food maker Kraft Foods has approached the consortium of shareholders that owns Britain's United Biscuits with a buy-out plan, British paper The Business​ said on Sunday, revealed Reuters.

It said the plan would value the snack company, bought out in 2000 by a group of firms backed by French food giant Danone, at up to £2.4 billion (€3.8 billion).

United Biscuits' owners have already had discussions with advisers over a potential flotation of the group, and the Kraft plan is now being considered as an alternative to a relisting in London, the paper said.

Kraft already owns some 25 per cent of United Biscuits after it took over rival Nabisco, The Business​ added.

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