Posted by Turgut Ziyal on Tuesday, August 3, 2010,
In :
confectionery
Cadbury UK owned by Kraft has launched its marketing campaign for the London 2012 Olympics. Cadbury's "Spots v Stripes" program aims to make people in the UK and Ireland play games along with the olimpics. Cadbury is the official treat provider for the Olimpics.
Consumers are being invited to sign up to a website, where they can win points by organising and playing games in their schools, workplace and neighbourhoods.The campaign will be taken nationwide throughout the summer, with events ... Continue reading ...
Ferrero has ruled out a rival bid for Cadbury, clearing the way for Kraft Foods to complete its £11.7 billion ($18.9 billion) proposed takeover of the British confectioner, Reuters reported.
Fellow chocolate maker Hershey said on Friday it had no intention of bidding for Cadbury, so with Nestlé already ruled out, Kraft appears on course to complete its recommended bid by the deadline of Feb. 2.
“Further to its announcement of Nov. 18, 2009, Ferrero International SA confirms that it doe... Continue reading ...
U.S. chocolate maker Hershey Co has decided not to launch a counterbid for British confectioner Cadbury Plc following a unanimous vote by its board late on Wednesday, the Financial Times said, citing a person briefed on the matter. Source: Financial Times Continue reading ...
Some people who have internal access claim that Hershey is preparing a counter-bid to Kraft hostile offer for Cadbury. They say that Hershey can make a formal offer before the January 23 deadline, .
Such a Hershey bid would certainly be welcomed by Cadbury. Although Cadbury has not solicited a “white knight” bid from Hershey publicly, the confectioner has made clear that it would prefer Hershey to Kraft.
Roger Carr, the UK company’s chairman, has told the Financial Times that Her... Continue reading ...
Ferrero, the Italian chocolate maker, was on Tuesday night debating abandoning a pursuit of Cadbury. It is said the Ferrero family, which controls the group, was close to dropping out of the Cadbury battle following a decision by Michele Ferrero, the group’s chairman. Mr Ferrero was understood to be against the move because it involved too much debt for a company that has traditionally not made acquisitions. On the other hand there are rumors that there is no consensus in the family on th... Continue reading ...
Cadbury showcased robust 2009 results and an upbeat outlook on Tuesday in its last move to rebuff U.S. food giant Kraft Foods' 10.5 billion pound ($17 billion) hostile takeover bid.
In a final defense document, the British confectioner said Kraft's "derisory" offer valued Cadbury lower than any comparable deal in the sector and that its standalone value had risen since the Kraft bid emerged last September.
"Our performance in 2009 was outstanding. We generated good revenue growth despite th... Continue reading ...
Cadbury workers – as well as some politicians – fear that a foreign takeover could lead to local job losses and pay cuts in the UK and Ireland. Len McCluskey, assistant general secretary of Cadbury’s trade union Unite, said in a statement: "Cadbury is a great UK success story – and it was and is not for sale. But suddenly, a hostile bid and swarming speculators has thrown its future, its investment plans and the jobs of thousands of workers here and in Ireland up in the air.” The ... Continue reading ...
The comments by Roger Carr, Cadbury's chairman, came in a formal defence document issued to its shareholders today designed to thwart a £9.8bn hostile bid from Kraft.
Alongside the verbal rebuttal, Cadbury also laid out a series of targets for the next four years which it hopes will be enough to persuade shareholders to knock back Kraft's existing offer. They are:
Organic revenue growth of 5pc to 7pc a year
Margins of 16pc to 18c by 2013
80pc to 90pc operating cash conversion from ... Continue reading ...
CHICAGO (AdAge.com) -- Cadbury is the chess piece that could determine who leads the world's confectionery market, depending on whose hands the company ends up in.
If it lands in the portfolio of Kraft, that marketer would topple Mars from its perch as the globe's leading confectioner, a status Mars assumed after winning control of Wrigley last year. But now, Ferrero has confirmed an interest in acquiring Cadbury, and The Wall Street Journal reported that it is considering a linkup with Her... Continue reading ...
Hershey's controlling Trust has belatedly accepted that, without doing a deal, the chocolate company faces slow decline. That removes one obstacle to Hershey challenging Kraft in the battle for Cadbury.
Hershey will struggle to acquire a company twice its size. Given limited geographical overlap, moreover, synergies would probably be less than Kraft’s targeted $625m a year. A mooted $17bn offer, including $10bn cash, would leave combined Hershey- Cadbury with debt of five times earnings be... Continue reading ...
Source: just-food.com
US chocolate giant Hershey and Italian chocolatier Ferrero have confirmed their interest in buying UK confectioner Cadbury. In seperate statements to the London Stock Exchange the two companies confirmed that they are each mulling a possible bid.
The news follows reports that the pair were in preliminary talks for a joint bid to counter the GBP9.8bn (US$16.45bn) hostile offer already on the table from US food giant Kraft Foods. Neither company made mention of the other... Continue reading ...
Hershey Co., the chocolatier from US and Ferrero SpA, the Italian chocolate manufacturer are said to be considering a joint bid for Cadbury which is the target of a hostile bid from Kraft according to a recent Reuters news..
Inside sources say there is no direct contact yet, but Cadbury may welcome such a joint offer. However nome equity analysts claim that neither Hershey nor Ferrero is financially strong enough for such a bid and this is unlikely.
My interpretation of such news is that som... Continue reading ...
summarized from an article fromThe Times 02 November 2009 written by Helen Power
Kraft is set to make a hostile bid for Cadbury within a week. Under Takeover Panel rules, the American food group must bid for the British maker of Creme Eggs, Dairy Milk and liquorice allsorts by 5pm next Monday or walk away for six months.
Should Kraft make a hostile bid, it is likely that the outcome will not be decided until well into next year.
The American food maker offered 745p a share for its target ... Continue reading ...
Posted by Turgut Ziyal on Tuesday, October 20, 2009,
In :
confectionery
19 October 2009| Source: just-food.com
Cadbury, currently under siege from a Kraft takeover bid, is gearing up to deliver one of the most crucial interim management statements in the company's history this week.
Last month, Cadbury's board rejected a GBP10.2bn (US$16.63bn) initial approach from Kraft and the UK confectioner will likely be hoping to deliver a defensive showing when Cadbury unveils its third-quarter numbers on Wednesday (21 October).
Indeed, accordi... Continue reading ...
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In this blog I try to compile the news related with food industry. This includes food companies, retailers, ingredients, regulations, mergers&acqusitions and others. In each post I try to designate the source of the news and add a link to the original document.
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