On September 25, 2009
More Drama and Mixed Messages in Kraft-Cadbury Flirtation
In case there was any confusion about what Cadbury CEO Todd Stitzer meant when he said, “I would never say there’s not some strategic sense in [Kraft and Cadbury] coming together,” Cadbury has come forward to clarify things. Apparently Stitzer meant to add, “I mean, it’s completely true; there’s no strategic sense whatsoever; we hate those guys. But I would never say that.” To quote Cadbury directly, “Mr. Stitzer does not believe that Kraft’s proposal makes strategic or financial sense for Cadbury and his comments should not be interpreted in any other way.” Kraft recently made a surprise $16.7 billion bid for the British confectionery company, but Cadbury shunned the offer — though many speculate that the company is secretly…
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