On September 8, 2009
Cadbury Playing Hard-to-Get?
Cadbury turned down Kraft’s surprise $16.7 billion takeover offer yesterday, but nobody seems to think that’s the end of the story. Cadbury is giving off mixed signals — it said it just wanted to fly solo for the moment, but it also said the bid was too low. Kraft, meanwhile, is not ready to give up yet. CEO Irene Rosenfeld told the Chicago Tribune she expects “constructive dialog” with Cadbury in the near future. Many think a takeover of Cadbury became inevitable when the company spun off its beverage divisions. There’s a chance that Hershey or Nestle could step in with their own bids — or even bid together, with Hershey taking the chocolate and confectionary brands and Nestle taking…
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