Kraft's disappointing third quarter has cast doubt over the future of any possible takeover move on UK confectioner Cadbury. The US food group delivered disappointing revenues and reduced its full-year organic growth targets, contrasting sharply with the strong third quarter Cadbury delivered last week. While Kraft's results have not left its expansion plans dead in the water, the US food group may have an uphill struggle to convince Cadbury shareholders and the market as a whole that its bid is viable, Katy Humphries contends. |
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INSIGHT: Kraft top line hit by pricing, volumes - Article (4th November 2009) Kraft Foods has indicated that its sluggish top-line growth was the consequence of lower pricing in the US and lower volumes in Europe, where the company offloaded under performing businesses. US: Kraft “to formalise bid at current price” - report - Article (3rd November 2009) Kraft Foods is reportedly preparing to formalise its original takeover proposal for UK confectioner Cadbury within a week, without increasing its offer price. UK: Cadbury investor “backs higher Kraft bid” - Article (23rd October 2009) A “key” Cadbury investor has indicated that he would consider a bid from Kraft Foods if it were in the region of 820p per share, a report in the UK claimed today (23 October). INSIGHT: Cadbury shrugs off sticky volumes - Article (21st October 2009) Cadbury, the UK confectionery giant, today (21 October) played down concerns over falling sales volumes after beating revenue forecasts and raising its margin target for 2009. UK: Cadbury sweetens sales, margins targets - Article (21st October 2009) Cadbury this morning (21 October) lifted its full-year revenue and margin targets in a third-quarter trading update seen as a bid to convince shareholders of the UK confectioner's future as an independent company. UK: Kraft handed Cadbury bid deadline - Article (30th September 2009) Kraft Foods has been set a deadline to make a formal offer for Cadbury or the US food giant will be forced to put any takeover ambitions on hold for six months. UK: Kraft's Rosenfeld "rebukes Cadbury boss" - Article (28th September 2009) Kraft Foods chairman and CEO Irene Rosenfeld has reportedly criticised her counterpart at Cadbury for his defence of the UK confectioner's growth prospects as an independent company. US: Cadbury is not vital to us - Kraft CEO - Article (25th September 2009) Kraft Foods chairman and CEO Irene Rosenfeld has insisted a takeover of Cadbury is not vital to the US food giant. UK: Cadbury remains resistant to Kraft bid - Article (22nd September 2009) Cadbury has again insisted that Kraft Foods' proposed offer undervalues the company after reports that it has approached the UK Takeover Panel to force the US food giant to “put up or shut up” on its attempt to acquire the business. |
