Cadbury Schweppes has confirmed that US activist investor Nelson Peltz has increased its stake in the company.
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Trian, Peltz’s investment vehicle, has upped its “economic interest” in Cadbury from 3.47% to around 4.5%.
According to the Financial Times, Peltz teamed up with the Qatar Investment Authority to buy derivatives contracts through a “special-purpose vehicle”.
Cadbury, the world’s largest confectioner, said it was its “understanding” that the “instrument through which the increased interest is held is not reportable”.
The company added that it “has not received formal notification of the increase in writing”.
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By GlobalDataPeltz bought his initial stake in Cadbury in March when he secured a 2.98% shareholding.
Industry watchers had seen Peltz’s original raid on the UK group’s shares as the catalyst for Cadbury’s decision to separate its confectionery and drinks businesses.
Cadbury, which is looking to demerge its US drinks arm after failing to find a buyer for the business, has always said that the decision had been two years in the making and not a reaction to pressure from unhappy shareholders.
