Reports Kraft (KFT) Could Sell Maxwell House To Raise More Money For Higher Cadbury (CBY) Bid
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Kraft (NYSE: KFT) is in talks to sell its Maxwell House coffee brand to Sara Lee (NYSE: SLE), according to reports from the New York Post. A sale could free up additional cash for Kraft to sweeten its hostile bid for Cadbury (NYSE: CBY).
Kraft would not comment on the speculation but told the Post, "the Kraft proposal for Cadbury does not require divestitures and the company is comfortable in its ability to finance the transaction."
Kraft has until Nov. 9 to make a formal offer for Cadbury, according to a deadline set by the British Takeover Panel.
Kraft would not comment on the speculation but told the Post, "the Kraft proposal for Cadbury does not require divestitures and the company is comfortable in its ability to finance the transaction."
Kraft has until Nov. 9 to make a formal offer for Cadbury, according to a deadline set by the British Takeover Panel.
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