UK confectionery giant Cadbury Pic has accepted an improved takeover offer from Kraft Foods, Inc, ending months of hostile relations between the two companies and resulting in a deal that Kraft said will create a "global confectionery leader". After months of speculation, it emerged on 19 January that the Cadbury board advised shareholders to accept Kraft's new offer of 840 pence per share plus a special lOp share dividend, valuing the confectioner at 11.9eur bn (13.6bn) or 13 times B0flOSOlOf the total offer, 500p is in cash and the rest in stock.
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