Source data

Cadbury bid terms, acceptances and subsequent regulatory milestones

Sources checked 11 November 2026

Bid valuation, completion and policy responseCadbury bid terms, acceptances and subsequent regulatory milestones

19 January 2010
Recommended final offer
500p and 0.1874 Kraft shares, valued at 840p on reference prices Source 1
28 January 2010 price reference
Prospectus revalues the same package
825.63p per Cadbury ordinary share Source 2
2 February 2010
Offer becomes unconditional
71.73% of issued share capital represented by valid acceptances Source 3
9 February 2010
Somerdale position changes
Kraft announces it will not keep the factory open Source 4
January 2011
Somerdale factory closes
Closure recorded by the parliamentary committee Source 4
2011
UK Takeover Code reforms
28-day bidder deadline and restrictions on most inducement fees Source 5

The offer's share component changed in sterling value even though the exchange ratio remained the same.

The sterling valuations used different dates for Kraft's share price and the exchange rate. They describe the same recommended cash-and-stock offer.

			Source
19 January 2010	Recommended final offer	500p and 0.1874 Kraft shares, valued at 840p on reference prices	Source 1
28 January 2010 price reference	Prospectus revalues the same package	825.63p per Cadbury ordinary share	Source 2
2 February 2010	Offer becomes unconditional	71.73% of issued share capital represented by valid acceptances	Source 3
9 February 2010	Somerdale position changes	Kraft announces it will not keep the factory open	Source 4
January 2011	Somerdale factory closes	Closure recorded by the parliamentary committee	Source 4
2011	UK Takeover Code reforms	28-day bidder deadline and restrictions on most inducement fees	Source 5

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