Home News Kraft Foods raises profit forecast for 2009

Kraft Foods raises profit forecast for 2009


NEW YORK (Dow Jones) – The U.S. food group Kraft Foods, the Since last September, at the acquisition of UK Confectionery manufacturer Cadbury is fighting, has its profit forecast for 2009 increased. The food company is now expecting for the past Year, income per share of at least U.S. $ 2, as the company on Announced Tuesday. So far, Kraft Foods had a profit of at least NAV per share of USD 1.97 per prospect made.
Kraft’s new forecast came on the latest outlook from Cadbury. Cadbury had on Monday higher sales and increase in gross margin for 2009 announced. The force had bid Cadbury here again rejected.
Force, the Cadbury’s shareholders, of which so far only very few have adopted the tender offer, from its Strength convincing. At the same time hoping to Northfield Illinois-based company that views its own Can increase share price. This would offer the Cadbury increase because it is next to a cash component of its own shares. Kraft-Foods CEO Irene Rosenfeld said that the company "with or well positioned without "Cadbury was.
The takeover battle has continued for months in the gained in recent weeks sharpness. The investment company Berkshire Hathaway, the U.S. investor Warren Buffett had in last week publicly opposed the issuance of new shares pronounced, with the force intends to finance the acquisition of Cadbury.
Berkshire Hathaway holds as the largest Shareholder of force around 9.4% in the food group. Despite the marked Criticism of force joined the investment company exchange of views not out. If the conditions agreed to the takeover, could Berkshire Hathaway to support the transaction, which had U.S. investment company last week said.
Since then, the force’s shares have increased. Other investors apparently convinced that buffets critical observation of Takeover battle, the U.S. food giant cautious regarding the Total price for Cadbury can act.

Websites: www.kraftfoodscompany.com

-By Anjali Cordeiro, Dow Jones Newswires
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January 13, 2010 01:10 ET (06:10 GMT)

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