Kraft adviser to quit Lazard July 6, 2011 A KEY financial adviser to US food giant Kraft in its takeover of British chocolate maker Cadbury is to step down from his position at investment bank Lazard. Peter Kiernan, a managing director in the bank’s mergers and acquisitions team in London, is understood to be tendering his resignation. He is expected to leave later [...]
Premier Foods takes on former Kraft boss to revive its fortunes July 14, 2011 PREMIER Foods has appointed former Kraft boss Michael Clarke in a bid to breathe new life into the company. Clarke will succeed Premier chief Robert Schofield on 1 September. He became head of Kraft’s European business in 2009, where he played a leading role at the heart of the controversial takeover of Cadbury, after which [...]
Premier Foods takes on former Kraft boss to revive its fortunes July 14, 2011 PREMIER Foods has appointed former Kraft boss Michael Clarke in a bid to breathe new life into the company. Clarke will succeed Premier chief Robert Schofield on 1 September. He became head of Kraft’s European business in 2009, where he played a leading role at the heart of the controversial takeover of Cadbury, after which [...]
Dixons hands Browett £1m despite big losses July 18, 2011 DIXONS chief executive John Browett was paid more than £1m in the last year despite the company being hit by tough trading in the electronics retailing market. His finance director Nicholas Cadbury, who is stepping down, was paid £564,000 including a cash bonus of £62,000. A chart in the report called Total Shareholder Return provided [...]
Sage eyes $1bn Aussie rival August 16, 2011 SAGE is in the running to buy Australian accountancy software company MYOB (Mind Your Own Business) in an increasingly rare example of a UK-based firm attempting to take control of a major foreign asset. It is understood Bain Capital and Kohlberg Kravis Roberts (KKR) have also placed final bids for the firm, which is expected [...]
Dixons sales drop but says recovery plan on track June 23, 2011 Electricals retailer Dixons said today its recovery plan was on track despite a full year sales drop. Total Underlying Group sales were down two per cent to £8.154bn compared to £8.32bn in the previous year Total Group sales, including those from businesses to be closed and closed businesses, were £8.341bn (2009/10 £8.532bn). Group like for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2011 FINANCIAL TIMES FOXCONN LOOKS TO AN AUTOMATED FUTURE WITH 1M ROBOTS BY 2013 Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to have as many robots as workers in its China factories within three years, according to Terry Gou, chairman and chief executive. Foxconn, China’s biggest employer, produced Apple’s iPad and other electronic [...]
New rules may bar takeovers July 21, 2011 CITY experts warned yesterday that new rules governing UK takeovers ignored the concerns of market participants and could further damage an already sluggish market for deals. New changes to the Takeover Code say bid approaches must be made public from the outset and all interested parties named, while the “put up or shut up” deadline [...]
New rules may bar takeovers July 21, 2011 CITY experts warned yesterday that new rules governing UK takeovers ignored the concerns of market participants and could further damage an already sluggish market for deals. New changes to the Takeover Code say bid approaches must be made public from the outset and all interested parties named, while the “put up or shut up” deadline [...]
Nestlé spends $1bn to buy stake in Chinese candymaker July 11, 2011 NESTLÉ, the world’s largest food company, is paying a hefty $1.7bn (£1.1bn) for a 60 per cent stake in candymaker Hsu Fu Chi International to move deeper into fast-growing markets in China. Nestlé’s biggest deal in China so far will take it closer to its target of 45 per cent of sales from emerging markets [...]