THE LONDON REPORT September 8, 2009 BRITAIN’S top share index rose for a third straight session yesterday, buoyed by the return of M&A activity and supported by hawkish economic data and with heavyweight mining. Energy stocks lead the gainers. The FTSE 100 closed 14.16 points higher, or 0.3 per cent, at 4,947.34, hitting a fresh highest closing level in 11 months. [...]
BEST OF THE BROKERS September 8, 2009 MARKS & SPENCERAfter reviewing the autumn merchandise and its own forecasts, Investec raised its full-year 2010 pre-tax profit estimate for Marks & Spencer to £530m, from £475m, based on stronger gross margin progress than in previous guidance. However, the broker believes that some of the margin recovery booked in 2009/10 will make 2010/11 progress harder, [...]
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 [...]
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 [...]
Kraft may have to sweeten deal September 7, 2009 KRAFT’s £10.2bn approach to Cadbury may have been rejected by Todd Stitzer’s board, but it did not surprise those who have been anticipating more M&A activity since Mars’s high-profile takeover of Wrigley was announced in April last year. The deal – which saw Mars pay $23bn (£14.1bn) in cash for America’s largest chewing-gum maker – [...]
Kraft may have to sweeten deal September 7, 2009 KRAFT’s £10.2bn approach to Cadbury may have been rejected by Todd Stitzer’s board, but it did not surprise those who have been anticipating more M&A activity since Mars’s high-profile takeover of Wrigley was announced in April last year. The deal – which saw Mars pay $23bn (£14.1bn) in cash for America’s largest chewing-gum maker – [...]
Kraft’s Cadbury bid sparks a flurry of FTSEmerger hopes September 7, 2009 THE leading share index notched back up towards the 5,000-points mark yesterday, after a proposed bid for Cadbury by Kraft raised hopes of a more general pick-up in merger activity and lifted banks and commodity shares. The FTSE 100 rose 1.7 per cent to a close of 4,933.18, up 81.48 points, as it came close [...]