Market Updates
Kraft Foods Acquires Danone Division for $7.2 B
Elena
03 Jul, 2007
New York City
-
Kraft Foods announced Tuesday that it launched a bid of 5.3 billion euros ($7.2 billion) in cash to acquire the biscuit division of French food company Groupe Danone SA. Kraft believes that the purchase will expand its presence in the snacks business and help transform company
[R]9:00AM Kraft Foods agreed to buy Groupe Danone biscuit division for $7.2 B.[/R]
Kraft Foods Inc. ((KFT)) announced Tuesday that it launched a bid of 5.3 billion euros ($7.2 billion) in cash to acquire the biscuit division of French food company Groupe Danone SA. The biscuits and cereal division includes brands LU, Petit Dejeuner, Tuc, Mikado and others. The offer does not include Danone stakes in biscuit businesses Bagley in Latin America and Brittannia in India. Kraft believes that the purchase will expand its presence in the snacks business and help transform company’s international business.
French food giant Groupe Danone agreed to sell its biscuit business to U.S. rival Kraft Foods and said in a statement that its board is considering the bid on an exclusive basis. The transaction, which is subject to regulator approval, is expected to complete by the end of the year.
Annual Returns
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|