AP – 24-0700" class="recenttimedate">2 hrs 48 mins ago Sent 191 times AFP/File
LONDON - Kraft Foods Inc. on Monday proposed a 10.2 billion pound ($16.7 billion) takeover of Cadbury PLC, but the offer was immediately rejected by the British maker of chocolate, gum and candy. Full Story »
I am so against these giant companies taking over smaller ones, all that ever seems to happen is cheapening of the products.
Hershey's already has rights to the Cadbury name here in the US, and the Cadbury products here pale in comparison to real British Cadbury products. I didn't realize that there was such a difference until I read an article about it and bought both to compare, the difference was amazing. I think that the reason that many don't like milk chocolate is that many mass produced domestic brands taste waxy and bland. Try a real Cadbury, or chocolate from one of the great small domestic companies (before they get bought up!) and you won't want to go back to Hershey's.
__________________ MAC
Before you criticize someone you should walk a mile in their shoes, that way when you criticize them you are a mile away and you have their shoes!
British candymaker rejects $16.7 billion stock-and-cash offer
By Mike Hughlett
Tribune reporter September 8, 2009
Kraft Food Inc., the food giant based in Northfield, made an aggressive $16.7 billion offer to buy Great Britain's Cadbury PLC in an effort to transform itself into a global powerhouse in the candy and gum business.
Completing a deal also would signal that Kraft Chief Executive Irene Rosenfeld's much-ballyhooed turnaround effort is working, if only Cadbury would play ball.
Kraft, which announced its unsolicited bid before dawn Monday, was quickly and publicly rebuffed by Cadbury. Undeterred, Kraft sketched out plans for going forward with a bid, signaling the start to the kind of high-stakes takeover drama the business world hasn't seen lately.
Dealmaking pretty much dried up last year amid the global financial meltdown, and the fact that Kraft is making a run at Cadbury, one that could draw competing bids from other candymakers, suggests the acquisitions market is reawakening.
Cadbury, which dates back to 1824 and is one of Britain's best-known companies, said in a statement Monday that it is "confident" in its "stand-alone strategy." But the company's board also said Kraft's offer "fundamentally undervalues" Cadbury.
I hate to see companies with that kind of history be consumed by the big guy. I hope they hold their ground. But if they need to sell it might be better for them. I guess we don't know what their books look like. I wonder if any of our more financial savvy members will give us an opinion on this one?
LONDON – Kraft Foods Inc. launched a 9.8 billion pound ($16.4 billion) hostile bid for Cadbury PLC on Monday — refusing to sweeten a previous offer rejected by the British candy maker.
The terms of the cash-and-stock approach were left unchanged, effectively representing a lower offer for Cadbury investors because of a shift in share prices of both companies.
Cadbury immediately said no to the renewed approach, with chairman Roger Carr saying it "does not come remotely close to reflecting the true value of our company."
UPDATE 1-Any Ferrero bid for Cadbury to be friendly -source
Thu Nov 19, 2009 11:59am EST
(Adds quotes on Ferrero cash position, background)
* Ferrero declines comment
* Sector specialist says Ferrero has ample liquidity
* Could consider delisting, sector specialist says
By Paola Arosio
MILAN, Nov 19 (Reuters) - Any bid for UK confectioner Cadbury (CBRY.L: Quote, Profile, Research, Stock Buzz) by Italian chocolate maker Ferrero would have to be friendly, an Italian source close to the matter told Reuters on Thursday.
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