Kraft (KFT) Talking to Banks Directly About Financing for Cadbury Bid (CBY)
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Dow Jones News is reporting that Kraft (NYSE: KFT) contacted several banks directly about providing debt to back its potential formal bid to buy Cadbury PLC (NYSE: CBY). Kraft's direct bank contact comes alongside its global coordinators Citigroup, Deutsche Bank and HSBC.
A total of seven to nine banks have been invited to participate in the financing and are expected to communicate there commitments in the next week or so.
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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