Kraft Foods is a long way away from gaining control of UK-based confectioner Cadbury, with a release from the American manufacturer overnight showing that a mere 1.52% of Cadbury shareholders had accepted their November 9 offer. Kraft intends to keep the offer open until February 2 but is likely to have to materially raise the offer by a January 19 deadline if they want to wrest control. While many Cadbury shareholders will have chosen to ‘sit on the fence’ until this January 19 date,... ...Read more »

Britain’s Takeover Panel has granted Cadbury three extra days to present new material aimed at fending off the current offer from Kraft as the US manufacturer reportedly considers raising their initial bid. The takeover saga has rolled on for months, with Kraft, in the absence of competition, seemingly unwilling to raise an offer labelled as “derisory” by the Cadbury Board. However, a lack of Cadbury shareholder support for the current bid is likely to force Kraft’s hand,... ...Read more »

Kraft Foods remains the favourite to buy Cadbury, a leading industry analyst claimed today (1 December) even if US chocolate maker Hershey tables a bid for the Dairy Milk maker. Andrew Wood, senior research analyst covering European food companies at Sanford Bernstein, said Kraft was still the front-runner to buy Cadbury. Wood suggested, however, that a “likely” bid from Hershey – either on its own or alongside Ferrero or Nestle – would mean an acquisition of Cadbury would... ...Read more »

Cadbury has repeated that its board will look to get the best value for the UK confectioner’s shareholders after CEO Todd Stitzer praised potential bidder Hershey over the weekend. In an interview with the Financial Times, Stitzer highlighted the “values” of the Hershey business, comparing the history of the US chocolate maker to Cadbury’s own Quaker origins. The FT claimed that Stitzer had declared that Hershey would be a better fit with Cadbury than Kraft Foods, which has... ...Read more »

The Hershey Trust, the controlling shareholder of the US chocolate maker, has reportedly asked law makers in Pennsylvania to allow the company to potentially bid for Cadbury. According to the Wall Street Journal, the trust has approached Pennsylvania attorney general Tom Corbett to get his approval for any move it makes for the Dairy Milk maker. Sources familiar with the matter told the WSJ that, in recent weeks, at least one member of the trust’s board had approached Corbett to see if he would... ...Read more »

Cadbury has emphasised that value remains the key factor in any takeover bid for the UK confectioner after a weekend of growing speculation over the future of the business.Over the weekend, reports claimed that Hershey, the US chocolate maker, was mulling a solo bid for Cadbury, as well as still giving a joint approach with Ferrero consideration. Reuters, meanwhile, suggested that Kraft Foods, which has placed the only firm offer on the table for Cadbury, could raise its bid for the company if any... ...Read more »

Speculation is mounting that Nestlé will enter the race for Cadbury as Hershey looks to make an initial offer and Kraft considers raising theirs – which has been lambasted by Cadbury as “derisory”. Swiss-based Nestlé will be able to fund a bid, but whether they wish to take on a confectioner at a time when they are pushing their health and wellness credentials remains the big issue. They are also likely to come under greater scrutiny from competition authorities given their position... ...Read more »

US chocolate giant Hershey and Italian chocolatier Ferrero have confirmed their interest in buying UK confectioner Cadbury. In separate statements to the London Stock Exchange this morning (18 November), 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... ...Read more »

The rumour mill over Cadbury was in overdrive overnight, with reports of merger talks and the possibility of a new bidder entering the fray. Ever since Kraft announced their non-binding offer for Cadbury in September there has been speculation of interest from Hershey. And, while talk of a potential purchase with the help of Nestlé have been dismissed by the Swiss food giant, the rumours of Herhsey’s interest have picked up since Kraft formalised their bid last week. This time reports suggest... ...Read more »

Ferrero has claimed the prized leading position as the most reputable company, according to research released this week which placed Woolworths as the only Australian-owned company in the top 200. The Reputation Institute’s 2009 Global Reputation Pulse* placed the Italian-based maker of Ferrero Rocher, Tic-Tacs and Kinder Delight on top ahead of Sweden’s IKEA, and the US-based consumer products group Johnson & Johnson. Brazilian food group Sadia, Kraft Foods, General Mills and Mexican... ...Read more »