Food maker stocks mixed after Kraft announces bid to buy candy maker Cadbury

Food stocks mixed on news of Kraft bid for Cadbury

SAN FRANCISCO — Shares of food makers were mixed in Tuesday trading after Kraft announced a bid to buy British candy and drink maker Cadbury PLC for $16.7 billion in stock and cash.

Cadbury rejected the offer, opening the possibility that other suitors will enter the fray.

Shares of Kraft Foods Inc. fell $1.49, or 5.3 percent, to $26.61.

Other food makers’ shares rose on the notion that they or their brands also might be acquisition targets.

Shares of Campbell Soup Co. rose $1.28, or 4 percent, to $32.47.

General Mills shares rose $1.75, or 3 percent, to $60.26.

Heinz shares rose $1.51, or 4 percent, to $39.31.