Summary
This 8-K filing from Kraft Foods Inc. (predecessor to Mondelez International) on January 12, 2010, primarily provides an update on the company's financial outlook and its potential combination with Cadbury plc. The company increased its guidance for 2009 diluted earnings per share (EPS) to at least $2.00, up from the previous expectation of at least $1.97. This upward revision signals stronger-than-anticipated performance for the fiscal year. Furthermore, the filing details the delivery of independent reports regarding Kraft's profit estimates, prepared in accordance with The City Code on Takeovers and Mergers. These reports, from PricewaterhouseCoopers LLP and financial advisors Lazard & Co., Centerview Partners, Citigroup, and Deutsche Bank, are crucial for the ongoing evaluation of Kraft's possible combination with Cadbury plc. Investors should note that the information within this filing is furnished and not deemed 'filed' for regulatory purposes.
Key Highlights
- 1Kraft Foods Inc. raised its 2009 diluted EPS guidance to at least $2.00, exceeding prior expectations.
- 2The company announced the delivery of a profit estimate report from its independent auditor, PricewaterhouseCoopers LLP.
- 3Financial advisors Lazard & Co., Centerview Partners, Citigroup, and Deutsche Bank also delivered a profit estimate report.
- 4These profit estimate reports were prepared to meet obligations under The City Code on Takeovers and Mergers.
- 5The reports are in connection with Kraft Foods' potential combination with Cadbury plc.
- 6This filing includes furnished press releases and expert reports as exhibits.
- 7The information provided is not considered 'filed' for purposes of Section 18 of the Exchange Act.