By Channel 4 News
The chocolate makers Cadbury have rejected a hostile takeover bid from the US food giant Kraft, dismissing the £9.8bn offer as "derisory".
Kraft's initial approach was rejected two months ago, but today the bid is worth even less thanks to falling share prices.
Cadbury's chairman said it was not "remotely close" to reflecting his company's true value, and appealed to shareholders to stand firm.
At stake is not just British jobs, but Cadbury's new ethical commitment to fair trade.
Posts
