Cadbury posts its final defence against Kraft’s hostile takeover, but a muted share price reaction shows it is not changing market views about the deal much. Ferrero, the Italian chocolate maker, is “very close” to taking a decision on whether to launch a counterbid together with U.S. group Hershey, a source close to the operation tells Reuters. Italy’s Il Messagero reported earlier Ferrero was securing a $4.5 billion syndicated loan.
General Motors repeats it is closing down Saab, because it has not yet received a credible bid. Dutch group Spyker meanwhile, says it remains hopeful that a deal can be reached.
And in other media:
Corus Entertainment Inc, Shaw Communications Inc, Fairfax Financial Holdings Ltd, and Jim Pattison Group are considering investing in debt-laden media company Canwest global Communications Group, the Globe and Mail newspaper reports late on Monday.