DealZone Daily

December 15, 2009

Kraft (KFT.N) signals it won’t overpay for Cadbury (CBRY.L), rubbishing the British chocolate maker’s defence in a statement. It says there are no surprises in Cadbury’s defence document, issued yesterday. Cadbury’s shares are unmoved in early trading.

Speculation that Volkswagen will launch a full takeover bid for German truckmaker MAN SE is gathering pace. The Sueddeutsche Zeitung quotes an unidentified company executive as saying that an offer from VW, which already holds a 30% stake, was looming. Volkswagen declines to comment.

Glencore bids to acquire all of Singapore marine fuel supplier Chemoil Energy (CLRGF.PK), after securing a 51% stake from the company’s founder. The Swiss commodity trader’s offer represents an 18% discount for the remainder of the shares, valuing the company at $459 million. The subject of bid talk for some time, Chemoil’s stock has doubled in the last twelve months.

For the rest of the latest deal-related news from Reuters, click here.

In other media:

Chery Automobile, China’s largest indigenous car maker, will stay away from overseas acquisitions even though it has been approached repeatedly, its chairman was quoted as saying on (SOHU.O), a Chinese Internet portal.

Beijing Automotive Industry Holding Co (BAIC) paid 1.4 billion crowns ($197 million) to buy the intellectual property rights and equipment to make Saab’s 9-5 and 9-3 sedans, daily Dagens Industri reported on Monday.

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