Business ::
Vevey, Switzerland (GenevaLunch) – The ongoing guessing game about who will own Cadbury is expected to end Wednesday 6 January when Kraft unveils shareholder response to its hostile takeover bid for Cadbury, but Nestlé won’t be one of the owners. The Swiss-based Nestlé says it is not bidding on Cadbury, ending speculation that it would fight Kraft for the UK-based Cadbury sweets company. Nestlé has instead offered to buy Kraft’s pizza division, the leader in the US and Canada in the frozen pizza market.
Nestlé’s $3.7 billion offer for the pizza business is allowing Kraft to increase its cash offer for Cadbury.
The pizza deal covers a number of brands, including DiGiorno, Tombstone, California Pizza Kitchen, Jack’s and Delissio.
