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...billion approach from Kraft as "derisory." But when Kraft sweetened the terms of a deal - by raising the amount of cash it was offering alongside its own shares - it proved too difficult for Cadbury to resist. At $13.91 per Cadbury share, a 7% premium over Friday's closing price, the new deal is expected to win shareholders' backing before the deadline for approval expires in two weeks. Buoyed by that prospect, shares in Cadbury rose more than 3% in trading on Monday, to $13.70. (See pictures of what the world eats...
...business boasts "dominant positions, strong emerging market exposure and the potential for massive margin improvements," Andrew Wood, an analyst with the financial firm Sanford C. Bernstein, wrote in a note to clients on Tuesday. "Kraft," he added, "will benefit from all of Cadbury's strengths." And at a knockdown price. Bagging the firm for a value equivalent to 13 times Cadbury's profit before tax and other deductions amounts to the cheapest food-industry takeover in more than a decade, Wood notes...
...purchasing a home. "Every time I put in a bid that I thought was reasonable, they wouldn't call back," he says. Serrano, a project manager for a demolition company, finally bought a foreclosed three-bedroom, two-bath house for $150,000 - more than $40,000 above the list price...
...really doesn't seem like it," says Beth, an administrative assistant for the city of Corona. At the end of the summer, the couple found the home of their dreams - a three-bedroom, two-bath house perfect for raising a family. They bid $25,000 above the asking price but were passed over for a cash offer...
...series of corruption trials unfold, all stemming from a sweeping probe known as "Bonusgate." Prosecutors charge that leaders of both parties in the state House of Representatives flagrantly ignored the law, using taxpayer money to wage political warfare and to lavish perks on aides and party loyalists. The price tag is likely in the tens of millions, and prosecutors warn there could be more indictments, possibly targeting leaders of the State Senate. "There was an unbelievable sense of entitlement in Harrisburg that they could do this with a high degree of immunity," said Chris Borick, political science professor at Muhlenberg...