Kraft bids for United Biscuits
The largest US food company Kraft Foods has approached the
consortium of shareholders that owns Britain's United Biscuits with
a buy-out plan, according to British paper The Business.
consortium of shareholders that owns Britain's United Biscuits with
a buy-out plan, according to British paper The Business.
North America's biggest food maker Kraft Foods has approached the consortium of shareholders that owns Britain's United Biscuits with a buy-out plan, British paper The Business said on Sunday, revealed Reuters.
It said the plan would value the snack company, bought out in 2000 by a group of firms backed by French food giant Danone, at up to £2.4 billion (€3.8 billion).
United Biscuits' owners have already had discussions with advisers over a potential flotation of the group, and the Kraft plan is now being considered as an alternative to a relisting in London, the paper said.
Kraft already owns some 25 per cent of United Biscuits after it took over rival Nabisco, The Business added.
