North American food group Kraft Foods plans to hold talks in coming weeks with British bid target Cadbury that may lead to a new offer.
"In the weeks ahead we look forward to engaging in constructive dialogue with the board and management of Cadbury," Kraft chief executive Irene Rosenfeld said in a speech to business students in Toronto. She said the company would continue to assess the opportunity and consider progressing to a formal offer, correcting an earlier statement that talks might result in a "final" offer.
Kraft wants to buy the British chocolate giant as it targets growth after revamping its operations in recent years.
Reuters