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Kraft shareholders will vote on the new shares proposal on Feb. 1.
Carillion sweetened the reduced offer by increasing the cash element of a cash and shares proposal.
William Hill spurned the consortium's initial £3.16bn cash and shares proposal, saying it substantially undervalued the business.
The New York-based Viagra maker raised its cash and shares proposal by 15% to £55 a share, from £50 a share at the beginning of the month.
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A10 Power-Sharing Proposal in Haiti The Haitian opposition has proposed to President-elect Jean Bertrand Aristide that he be part of a three-member presidency that would lead the country to new elections in two years, diplomats and mediators said.
Worse, the offer quickly became worth only £48 because Pfizer's share price fell 6%, reducing the value of the paper part of its cash-and-shares proposal.
The two suitors made a joint cash-and-shares proposal worth about 364p a share, which William Hill said represented "a premium of only 16%" to the bookmaker's share price the day before the consortium signalled its possible offer, when the shares closed at 314p.
Fehr wouldn't even say if he is encouraged by the revenue-sharing proposal.
The board made the same determination with respect to BASF's $38 per share proposal.
A spokesman said Mr. Aristide's Family Lavalas Party rejected the power-sharing proposal.
The union has its own revenue-sharing proposal and wants the topic to be part of the collective bargaining process.
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