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Kraft plans hostile takeover as Cadbury rejects £10.2bn bid

KRAFT, North America's largest food company, yesterday launched a hostile takeover bid for Cadbury after the UK chocolate maker rejected a £10.2bn (€11.6bn) bid.

US-based Kraft, which has its Irish headquarters in the UK and employs fewer than 100 people over here, said it expected to make cost cuttings at Cadbury, which employs more than 40,000 people worldwide, including 1,100 in Ireland.

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