Babcock International, whose interests include ship-building and nuclear power, has made a 1.14 billion pound move on defense services firm VT Group, a move that turns VT from predator into prey. The approach could scupper VT’s own 330 million pound bid for infrastructure services company Mouchel as the company will now have to focus on its defending the unwanted advance, but analysts believe a tie up between VT and Babcock has a “compelling logic”.

Kraft’s pursuit of Cadbury draws to a close after it secured over 90 percent acceptances from the British confectioner’s shareholders for the $18.4 billion deal. The U.S. food giant will now start a compulsory purchase of the remaining shares.

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In other media:

JP Morgan Chase is close to a $1.7 billion deal for RBS Sempra (excluding North American operations) as it looks to expand its energy and metals trading business, Bloomberg reported. A deal could come as early as today.

A U.S. led consortium is planning a fresh offer for South Korean builder Daewoo Engineering & Construction Co, local newspaper Chosun Ilbo says, sending shares in the company up by 8 percent. TR America was picked as a preferred bidder back in November in a failed auction of the company but is planning to come back with a 3.39 trillion won ($2.96 billion) offer for 50 percent plus one share in Daewoo. Here’s our take on the report.