Cadbury PLC (CBRY.LN), a global confectionery business, said Wednesday it reiterates its rejection of Kraft's approach after the Takeover Panel Executive announced a bid deadline of Nov. 9.

MAIN FACTS:

-Cadbury previously rejected Kraft's proposal on grounds that it fundamentally undervalued the group and its view has not changed.

-Cadbury has a strong position in the global confectionery market.

-Board is confident in Cadbury's standalone pure play strategy and growth prospects.

-Welcomes Panel's decision in the interests of obtaining clarity and certainty for shareholders and employees at the earliest opportunity.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com