NEW YORK (
( KFT) might make changes to its $16.3 billion hostile takeover bid for British confectioner
( CBY), according to EU regulators, in order to soothe anti-trust concerns.
The European Commission says it plans to extend by 10 working days, from December 14 to January 6, its deadline to vet the commitments made by Kraft. If the regulators don't approve the deal by the deadline, they will conduct further investigations to examine the problems more closely.
A Kraft spokesman says that the company does not expect to have to make "material divestments" to gain EU approval -- probably in reference to selling off assets or business divisions.
Companies often sell off units, but can also make binding commitments, such as offering licenses more widely, to eliminate competition problems identified by EU regulators.
Cadbury is set to publish a formal response to Kraft's offer on Dec. 14.
, in part
Those other companies include
and Italian chocolatier Ferrero.
may also be interested in buying Cadbury, according to observers.
-- Reported by Andrea Tse in New York
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