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.
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“Todd has travelled to the US as part of our investor road show,” a spokesperson for the company confirmed.
However, the spokesperson said that Stitzer travels to the US at this time each year and insisted that the trip was nothing “out of the ordinary”.
“Kraft will be on the agenda – but it will be in response to questions investors are likely to have rather than Cadbury-led,” the spokesperson added.
Cadbury has repeatedly rebuffed Kraft’s GBP10bn (US$16.25bn) hostile takeover bid, arguing that it undervalues the company and that the group’s future under Kraft would be grim.
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By GlobalDataIn its defence document, published on Monday (14 December), the group raised its sales, margins and dividend targets.
Following the upbeat outlook – which was attacked as overly optimistic by Kraft – a spokesperson for Cadbury told just-food that Kraft has “run out of ideas”.
This, sources suggested, was the message Stitzer is likely to take to the US, in a series of face-to-face meetings viewed as pivotal to Cadbury’s bid to remain independent.
