British chocolate maker Cadbury plc has dropped its opposition to acquisition by the U.S. conglomerate Kraft Foods Inc. in exchange for a sweetened deal worth $19.4 billion.
The acceptance of the deal by Cadbury’s board ends four months of sparring. Cadbury rejected as “derisory” Kraft’s original Dec. 4 hostile takeover bid of $16.7 billion, and its executives were bluntly critical of Kraft management.
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