Kraft Foods Sells Pizza Business, Focuses on Global Expansion

SUGAR LAND--January 7, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Kraft Foods Incorporated (NYSE:KFT) (Northfield, Illinois) announced plans to sell its frozen pizza business to Nestle SA (OTC:NSRGY) (Vevey, Switzerland) for $3.7 billion, leaving the company in a better position to improve its takeover offer of Cadbury plc (NYSE:CBY) (Uxbridge, England). Cadbury rejected Kraft's previous $16.7 billion bid, claiming it undervalued the company, according to some estimates by as much as 43%.

Other companies featured: Alcon (NYSE:ACL), Novartis AG (NYSE:NVS)