Investment bank Barclays Capital has reportedly suspended coverage of UK confectioner Cadbury due to its work with Kraft Foods.
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Barclays is one of the banks providing US$9.2bn of loans to help fund the US food giant’s hostile bid for Cadbury.
However, in a note to clients, the bank said it had halted coverage as a result of it acting as financial advisor to Kraft, according to Reuters.
Barclays Capital declined comment when contacted by just-food.
Cadbury this week outlined its case for independence, urging shareholders to reject the advances of Kraft and to stick with a business that has “exceptional growth opportunities”.
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By GlobalDataKraft retaliated claiming the UK firm’s investors are leaving themselves open to “significant risk”.
