Kraft's attempt to take over Cadbury fails

September 7, 2009 9:13:42 AM PDT
Suburban-based Kraft Foods has been rejected in a proposed takeover of Cadbury.Kraft had proposed a nearly $17 billion takeover of the British chocolate, gum and candy maker, but Cadbury said the offer undervalued the company.

Kraft says it will continue to seek a transaction that Cadbury's board could support.