Kraft 'finalisling terms' of Cadbury takeover

Dairy Milk maker Cadbury and its US suitor Kraft Foods are finalising details of an agreed takeover deal, the companies confirmed today.

Oreos and Philadelphia cheese giant Kraft said the boards were "finalising the terms of a recommended offer" and confirmed an announcement would be made shortly.

Kraft is expected to secure the backing of the Cadbury board after it reportedly tabled a revised bid worth up to 11.7 billion.

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