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COUNTERBID NOT SEEN
{ 12:20, 2010-Jan-20 }
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Analysts say a counter bid for Cadbury is unlikely. The UK Takeover Panel gave Hershey (HSY.N), the U.S.-based maker of Hershey's Kisses and Reese's peanut butter cups, and Italy's Ferrero, which makes Nutella chocolate UGG Nightfall Bootsspread and Tic-Tac candy, until January 25 to make a firm offer. Hershey declined comment on the Kraft-Cadbury deal, but a source familiar with the matter said the company was unlikely to compete with Kraft's raised bid. With the Kraft-Cadbury deal, Hershey may have missed its bestUgg Nightfall chance to escape the confines of the mature U.S. market, analysts said. Hershey was hamstrung by its unique ownership structure in which it is controlled by a charitable trust. The deal also makes the new Kraft and Mars-Wrigley the confectionery behemoths dominating a market with distant rivals, such as Ferrero. Cadbury has agreed to pay a breakup fee of about $193 million,Ugg Roxy or about 1 percent of the Kraft offer, should its board or shareholders accept a competing bid. Kraft said the deal would add to 2011 earnings per share by around 5 cents on a cash basis and give a return on investment at a mid-teens percentage rate, well in excess of the cost of capital. Kraft said it does not expect any major divestitures. Kraft was advised by Lazard, Citi (C.N), Deutsche Bank (DBKGn.DE) Ugg Shortand Centerview Partners, and Cadbury by Goldman Sachs (GS.N), Morgan Stanley (MS.N) and UBS (UBSN.VX). UGG Sundance Grab bags UGG Ultra boots UGG Ultra Short boots UGG Ultra Tall boots
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