Warren Buffett: Kraft wants Cadbury, but it's not dependent on deal

Kraft Foods Inc told employees it would use fiscal restraint in its pursuit of British confectioner Cadbury, and said its success as a company was not dependent on doing a deal.

"This is something we would like to do, not something that we have to do," Kraft Chief Executive Irene Rosenfeld said on Thursday in a town hall meeting with employees in Northfield, Illinois. A transcript of the meeting was filed with the U.S. Securities and Exchange Commission on Friday.

Earlier this month, Kraft made a $16.44 billion offer to acquire Cadbury but its bid has been rejected as too low.

Billionaire investor Warren Buffett, head of Berkshire Hathaway Inc -- Kraft's largest investor -- said Kraft had "a lot to do" to justify that price tag. Click here 

Jan Hýsek * Top 5