Cadbury boss brands takeover suitor a 'low-growth conglomerate'

The chairman of confectioner Cadbury PLC said that Kraft Foods Inc undervalued his company in a takeover offer, and he dismissed the suitor as a "low-growth conglomerate".

Roger Carr laid out his opposition to Kraft's $16.7bn (€11.4bn) bid in an open letter to Kraft chief executive officer Irene Rosenfeld.