Word on the Street
Kraft (KFT) is still craving some of Cadbury's (CBY) chocolate. The North American food group launched a $16.4 hostile bid for the British confectionery firm. Cadbury quickly rejected the offer , but one of the company's top shareholders said investors would find it hard to turn down an offer of more than 8 pounds a share from the US suitor.
Video -- Kraft, Cadbury Deal Gets Hostile
In other acquisition news, Electronic Arts Inc (ERTS) has acquired privately held Playfish for $275 million in cash. The company is looking to strengthen its position in the growing Internet and wireless gaming segment. Google (GOOG) has agreed to acquire AdMob , a fast-growing start-up that developed technology to place ads on mobile phones, for $750 million in stock.
Cisco Systems Inc. (CSCO) extended its $3 billion tender offer for Tandberg ASA by nine days after some shareholders of the Norwegian videoconferencing company demanded a higher price.
The steep declines in the auto industry pushed some companies over the edge and forced them into bankruptcy court. General Motors emerged from bankruptcy earlier this year and now Lear. Corp has emerged from bankruptcy protection with a third-quarter profit.
Six new directors to join Lear board
Advanta Corp. (ADVN.B), once one of the largest credit card lenders to small businesses, filed to reorganize under Chapter 11 bankruptcy protection . The company's bankruptcy filing is a blow to small businesses .
Comcast (CCT) is inching closer to a deal with NBC Universal. Now that a price tag has been hashed out, a deal between the two companies is expected to be completed within the next few days. Demonstrators have already started to flock to Washington, D.C. to protest against the deal.
The Federal Reserve said fewer banks tightened lending standards for companies and consumers in the third quarter than in the prior period as the US economy grew for the first time in more than a year.
A Positive Trend in Small Bank Lending?
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