• How the Kraft/Cadbury Bid Cleared Despite a High Market Share
  • February 10, 2010 | Authors: Tim Frazer; Susan Hinchliffe
  • Law Firms: Arnold & Porter LLP - Brussels Office; Arnold & Porter LLP - London Office
  • On 6 January 2010, the European Commission cleared the hostile bid for Cadbury plc (Cadbury), by Kraft Foods Inc. (Kraft Foods), subject to divestments in Poland and Romania. The most striking aspects of the Commission’s decision concern its rationale for clearing the transaction without requiring remedies in three key markets where combined market shares were very high: the UK, Ireland, and France. Arnold & Porter (UK) LLP represented Kraft Foods in this case. This advisory assesses the Commission’s approach, based on the public version of the Commission’s decision (the Decision). www.arnoldporter.com