Kraft Foods

:

Cadbury

Dealogic Deal #  :

635014

Data as of :

1/19/2010

Target

Acquiror

Dates & Values

Cadbury

Kraft Foods

Target:

100

% stake

Buying:

100

% stake

Rumored

16th Jul 2009

Deal Value $m

22,550.4

LN

CBRY

1,367

m shares outstanding

Public (Listed)

Announced

7th Sep 2009

Value ex Debt $m

19,460.5

United Kingdom

United States

Food & Beverage

Food & Beverage

Expected

1Q 2010

Consideration

UBS | Advisor

Citigroup | Advisor

Completed

-

Goldman Sachs | Advisor

Lazard | Advisor

Morgan Stanley | Advisor

Deutsche Bank | Advisor

Withdrawn

-

Cleary Gottlieb | Attorney for advisor

Centerview Partners | Advisor

Shearman & Sterling | Attorney

Barclays | Advisor

Termination Fee, Target $m

tbd

Squire Sanders | Attorney

Credit Suisse | Advisor

Freehills | Attorney

RBS/ABN AMRO | Advisor

Slaughter and May | Attorney

Cravath Swaine | Attorney

Clifford Chance | Attorney

Arnold & Porter | Attorney

Gibson Dunn | Attorney

Termination Fee, Acquiror $m

tbd

Financials

31st Dec 2008

Timeline Events

Balance Sheet

Debt/Equity:

1.5

Premiums & Multiples

Initial Offer

£7.44

Current Offer

£8.40

Income Statement

Cash Flows

Operations $m

769

Profitability

Profit Margin

10%

Return on Equity

14%

League Table Impact

Sector Trend

2009 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Food & Beverage

1

Goldman Sachs

455.6

2

Morgan Stanley

437.5

3

JPMorgan

382.5

4

Citi

338.1

5

BOA Merrill Lynch

271.7

6

Lazard

263.3

7

Deutsche Bank

256.5

8

UBS

208.3

9

Credit Suisse

181.9

10

Barclays Capital

137.5

17

Centerview Partners

35.5

26

RBS

24.2

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