CADBURY RIVALS SET FOR BID WAR September 7, 2009 CADBURY, the maker of some of Britain’s best-loved confectionery brands, yesterday rejected a £10.2bn takeover approach from Kraft Foods, sparking speculation that the US food giant and its rivals may soon enter a spiralling bidding war for the firm. Kraft Foods, which owns confectionery brands Toblerone, Milka and Oreo, said a deal would create a [...]
Cadbury-Hershey merger would be best September 7, 2009 EVER since I can remember, the markets have been expecting a bid for Cadbury. The names in the frame haven’t really changed for 15 years. A bid became even more likely when the firm sold off its soft drinks unit, a decision which was well-received by the markets but which I always thought was a [...]
Cadbury-Hershey merger would be best September 7, 2009 EVER since I can remember, the markets have been expecting a bid for Cadbury. The names in the frame haven’t really changed for 15 years. A bid became even more likely when the firm sold off its soft drinks unit, a decision which was well-received by the markets but which I always thought was a [...]
Cadbury boss blasts Kraft’s sour proposal September 13, 2009 CADBURY ramped up its defence at the weekend against a takeover from Kraft after its chairman Roger Carr blasted the bid as “unattractive.” In an open letter to Kraft’s chief executive Irene Rosenfeld, Carr reaffirmed the Dairy Milk maker’s rejection of the £10.2bn bid, which he believed “fundamentally undervalues Cadbury.” And in a further slight, [...]
Cadbury boss blasts Kraft’s sour proposal September 13, 2009 CADBURY ramped up its defence at the weekend against a takeover from Kraft after its chairman Roger Carr blasted the bid as “unattractive.” In an open letter to Kraft’s chief executive Irene Rosenfeld, Carr reaffirmed the Dairy Milk maker’s rejection of the £10.2bn bid, which he believed “fundamentally undervalues Cadbury.” And in a further slight, [...]
Investment banks line up for advisers’ fee bonanza March 1, 2010 HSBC, JPMorgan and Credit Suisse stand to take a healthy slice of the action by underwriting Prudential’s $20bn (£13bn) cash call for American International Assurance. The 162-year-old insurer is tipped to pay $735m in fees to the investment banks for underwriting and advising on the rights issue. Dealmakers will enjoy a three per cent upfront [...]
Takeover Panel poised to step into the bid battle between Kraft and Cadbury September 27, 2009 KRAFT is this week expected to be given its “put up or shut up” deadline by the Takeover Panel, which will force the US giant to either make a formal offer for Cadbury or walk away for six months. Due to the speed of the appeal by Cadbury, the panel is expected to give Kraft [...]
Takeover Panel boss defers his entrance again February 25, 2010 THE Takeover Panel yesterday said the arrival of incoming director general Peter Kiernan had been delayed again, and it had drafted in former head Philip Remnant, chairman of the Shareholder Executive, to serve in his place. The arrival of Kiernan, a senior Lazard banker who advised Kraft Foods on its takeover of Cadbury, had been [...]
Kraft flexes its muscles in Cadbury fight September 8, 2009 KRAFT Foods chairman and chief executive Irene Rosenfeld yesterday hinted the US food giant is ready to get tough in its bid to take over Cadbury, a day after the chocolate maker rejected its initial £10.2bn indicative offer. Rosenfeld told US analysts in a conference call that Kraft “has been and will continue to be [...]
Kraft flexes its muscles in Cadbury fight September 8, 2009 KRAFT Foods chairman and chief executive Irene Rosenfeld yesterday hinted the US food giant is ready to get tough in its bid to take over Cadbury, a day after the chocolate maker rejected its initial £10.2bn indicative offer. Rosenfeld told US analysts in a conference call that Kraft “has been and will continue to be [...]