Cadbury publicly mounted its defence against Kraft Foods’ takeover bid this week – prompting both companies to exchange words over the strength of the UK confectioner’s arguments for independence. UK politicians called for intervention to block a takeover by Kraft but, all the while, there remains the prospect of a rival bid. Cadbury boss Todd Stitzer indicated that the company had received interest from elsewhere.
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UK: Cadbury issues defence against Kraft takeover
Cadbury, the UK confectioner, has this morning (14 December) outlined its case for independence, urging shareholders to reject the advances of hostile suitor Kraft Foods and to stick with a business that has “exceptional growth opportunities”.
UPDATE: UK: Stitzer hints at wider interest in Cadbury
Cadbury chief executive Todd Stitzer has admitted the UK confectioner has attracted interest from companies other than Kraft Foods but declined to say from where – hours after UK reports said the Dairy Milk maker had held talks with Hershey.
UPDATE 2: UK: Give us value and we’ll talk, Cadbury tells suitors
Cadbury chairman Roger Carr said this afternoon (14 December) that the UK confectioner, which is facing a hostile takeover bid from Kraft Foods, had received other approaches – but insisted the company would only enter takeover talks if it received a compelling offer.
US: Kraft derides “significant risk” in Cadbury defence
Kraft Foods has this morning (15 December) hit back at Cadbury’s defence against the US food giant’s hostile takeover bid, with the Milka chocolate maker claiming the UK firm’s investors are leaving themselves open to “significant risk”.
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By GlobalDataUPDATE: GLOBAL: Cadbury targets flavour, packaging savings
Cadbury is looking to cut costs on how it buys in flavours and packaging as part of the company’s drive to further improve margins over the next four years.
UPDATE: US/UK: Kraft has “run out of ideas” – Cadbury
Cadbury this afternoon (15 December) attacked predator Kraft Foods after the US food giant claimed the Dairy Milk maker was opening its shareholders to “significant risk”.
UK: Calls for intervention to block Kraft-Cadbury deal
Pressure is mounting for the UK government to step in and block Kraft Foods’ proposed takeover of Cadbury.
UK/US: Cadbury takes defence to US investors
Cadbury chief executive Todd Stitzer has travelled to the US to meet investors as the UK confectioner battles to retain its independence in the face of a hostile takeover bid from Kraft Foods.
