Breaking News (KFT, MCD, CLWR, TEC)
Kraft Foods (NYSE: KFT) has made a hostile cash-and-stock offer for the world’s second largest confectionary maker Cadbury (NYSE: CBY). The offer is valued at £9.8 billion, which is at a 37% premium to Cadbury's July 3 price. KFT noted that no other bidder has come forward.
McDonald's Corp (NYSE: MCD) has announced a 3.3% rise in its same-store sales for October. MCD’s comparable sales at restaurants in operation at least 13 months were down 0.1% in the US and up 6.4% in Europe and 4.7% in Asia, Middle East and Africa.
According to a report published in The Wall Street Journal, Clearwire Corp (NASDAQ: CLWR) can get an additional aid of $1.5 billion from its majority shareholder, Sprint Nextel Corp (NYSE: S), and Sprint's joint-venture partners.
Meanwhile, Denver oil group Teton (NYSE: TEC) has filed for bankruptcy protection under Chapter 11.
