By Paul Ziobro Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Kraft Foods Inc.'s (KFT) date with Starbucks Corp. (SBUX) in arbitration court is set for July. Kraft on Monday disclosed in its 10-K that it expects the arbitration proceeding to begin July 11 in Chicago and conclude by July 31. The hearing stems from Starbucks' move to take control of its packaged-coffee business from long-time partner Kraft, which for 13 years distributed bags of Starbucks coffee to retailers under a licensing agreement. Starbucks brought the business in-house on March 1, 2011, after Kraft tried to block the move through legal proceedings. Kraft is looking to get Starbucks to pay a termination fee that analysts have estimated would top $1 billion. Shares of Kraft, which is splitting up into global snacks and North American grocery businesses, were recently up 28 cents to $38.16. Starbucks shares were up 6 cents to $48.36. Calls to Kraft and Starbucks representatives weren't immediately returned. --By Paul Ziobro, Dow Jones Newswires; 212-416-2194; paul.ziobro@dowjones.com
