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Page last updated at 13:47 GMT, Tuesday, 19 January 2010

Cadbury agrees to US food company Kraft takeover

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Cadbury is to be taken over by US food company Kraft after its board approved a new bid, the two companies have confirmed.

The Cadbury board has advised its shareholders to accept a new offer of 840 pence a share - valuing the company at £11.5bn ($18.9bn).

Robert Peston reports.

READ MORE: Cadbury says job cuts inevitable

SEE ALSO

Workers react to Cadbury takeover(00.23)
"Sad day" for Cadbury and manufacturing(00.44)
Kraft 'don't understand philanthropic side of Cadbury'(02.48)
Cadbury agrees to Kraft bid(04.29)

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