Since Kraft made its opening bid of £10.2bn or 745p a share at the beginning of September, the two companies have exchanged blows in public.
On news of the initial offer, Cadbury CEO Roger Carr said Kraft operated “a low growth conglomerate business model” but today he said a revised bid offered “good value” for shareholders.
The deadline for Cadbury shareholders to vote on Kraft's offer is 2 February. That is also the last day for any new bidder to launch its own offer. That would mean the 60 day timetable would restart.
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