Kraft given Nov. 9 deadline to bid on Cadbury

[September 30, 2009]  LONDON (AP) -- Britain's Panel on Takeovers and Mergers says Kraft Foods Inc. has until November 9 to either make a firm bid for candy maker Cadbury PLC or walk away.

In a statement on its web site, the takeover panel says that should Kraft decide not to follow through with a formal offer by this deadline, it will be prevented from making any new approach for six months.

[Associated Press]

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