Kraft agrees £11.5b takeover deal with Cadbury's board

US food company Kraft has agreed a deal with the board of Cadbury’s worth £11.5b ($18.9b) to take over the British chocolate institution.

US chocolate brand Hershey’s, which has tabled rival bids for the Birmingham company could yet come in with a last minute attempt to hijack the deal, it is thought.

Shares for the deal have been agreed at £8.40 per share with chairman of Cadbury Roger Carr describing it as "good value for Cadbury shareholders."

Details of the agreement are still being finalised at the time of writing.

Staff Writer

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