Kraft Foods Inc (KFT)
Beginning with just cheese, Kraft has crafted ludicrous amounts of labels under its names: A1, frozen California Pizza Kitchen, Boca, and way too many others to list. This Chicago-based company lost $3,000 and a horse (seriously) its first year of business. Now it's pulling in over $37 billion dollars annually.
Kraft Lower on Anticipated Debt Issue for Cadbury Purchase
10:29 AM Eastern Standard Time, 02/04/2010 (MidnightTrader) -- Kraft Foods Inc. (KFT) is lower on reports that it will issue debt to pay for its takeover of Cadbury plc (CBY).
The world's second-largest food maker could sell at least $4 billion of notes due in 3.25, 6, 10, and 30 years, according to Bloomberg News which cited an anonymous company official.
The company's shares opened at $28.07.
Kraft won approval from Cadbury's shareholders to purchase the British company for $18.6 billion on Feb. 2.
Moody's had lowered Kraft's outlook to negative on Tuesday, stating that the company will "not quickly reduce its financial leverage given its history of unfavorable shifts in financial policy."
Price: 28.14, Change: -0.35, Percent Change: -1.23
Members who own this company also own
Current price per share
Today's gain: $0.10 (0.34%)
