Kraft Foods has remained silent on reports that it is mulling the possibility of further raising the cash component of its GBP10.4bn (US$16.7bn) hostile bid to acquire Cadbury.
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According to the Times, Kraft is looking at the possibility of further raising the cash part of its cash-and-shares offer to increase its appeal to UK institutional shareholders who are uninterested in taking on US shares.
Earlier this week, Kraft said that it would increase the amount of cash it is offering Cadbury shareholders from 300 pence to around 360p. The move, the US group said, will be funded by the sale of its North American frozen pizza business to Nestle.
However, Kraft stopped short of increasing the value of its offer and the revised bid was met with a lukewarm reception.
According to the Times, Kraft is considering further increasing the cash component alongside a number of other options to win acceptance of its bit.
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By GlobalDataWhen contacted by just-food, the company declined to comment on whether it was contemplating further revisions to its proposal.
