COMPANIES Kraft’s use of a rare mergers and acquisitions financing tactic designed to help stop a counterbid to its £16.2bn ($26.7bn) pursuit of Cadbury has highlighted a shift among banks towards a greater willingness to fund dealmaking.
When the US food group forced nine banks to sign an exclusivity agreement on the financing for its hostile bid for the UK confectioner, it thought it was being a shrewd tactician.
