US food giant Kraft has announced first quarter 2010 revenues up 26 percent to $11.3bn after its acquisition of British food and confectionery company Cadbury.
Kraft mandates banks to sell Cadbury plants
US food group, Kraft, has recruited the services of financial powerhouses HSBC and BNP Paribas to help divest it of the Polish and Romanian businesses of Cadbury, according to media reports.
Kraft acted 'irresponsibly' in Cadbury takeover, claims UK report
Kraft’s reputation in the UK has been badly hit by its behaviour during the acquisition of Cadbury and it should be subject to continuous scrutiny over its subsequent pledges, claim UK politicians who heard evidence from Kraft executives last month.
Kraft pledges no Cadbury job cuts for two years
US food giant Kraft issued a public apology regarding the U-turn on its pledge to keep operational the Cadbury plant near Bristol, and it also promised to ensure no job losses over the next two years as it faced a committee of UK politicians yesterday.
Kraft CEO to miss UK political inquiry on Cadbury, report
Directors of both US food group Kraft and Cadbury are being called to account at a committee of UK politicians regarding the acquisition of the Dairy Milk maker tomorrow.
Kraft has announced that it will begin to end pension increases for current and non-union hourly employees from year end 2019 but the US food group did not provide any clues in regulatory filings as to the future of the 100-year-old Cadbury pension fund.
Kraft's Milka set to go head to head with Dairy Milk in UK
The Kraft owned chocolate brand Milka is to be launched across the entire UK market from April, just weeks after the US food giant purchased Dairy Milk maker Cadbury.
Fury over Kraft u-turn on Cadbury plant closure
Kraft Foods’s reneging on a decision to keep a Cadbury factory near Bristol in the UK open will result in the loss of 400 jobs and has drawn criticism from politicians and unions alike.
Top management at Cadbury resign
The top management at Cadbury have announced their resignation following the takeover of the UK confectionery giant by Kraft.
Kraft bid wins over 74% of Cadbury shareholders
Kraft’s takeover of UK chocolate firm Cadbury is now unconditional, as 74 per cent of Cadbury shareholders yesterday accepted the offer of 840p per share plus a 10p dividend.
Cheesed off – jingoism takes the spoils in the Cadbury battle
Reports of my death have been greatly exaggerated, quipped Mark Twain. Predictions of the demise of Cadbury following the approval of Kraft’s offer are premature and are flawed by knee-jerk anti-Americanism.
Kraft deemed winner of choc wars
Kraft is the overall winner in the battle for UK confectioner Cadbury, and it looks like the US food group has netted a bargain in the final price, claim US analysts Bernstein Research.
Cadbury recommends acceptance of new Kraft takeover bid
Kraft has struck an £11.7bn deal to acquire Cadbury in a move that could bring to an end months of fierce corporate battles.
Kraft set to raise Cadbury offer, report
Kraft Foods will raise its bid for Cadbury to at least 820 pence per share, according to a report in the UK’s Sunday Times.
Cadbury shares up on reports of Hershey bid
Cadbury shares rose today on the back of media report that indicated that US chocolate maker, Hershey’s could be set to make a counter-bid for the UK confectioner, already the focus of a hostile bid from Kraft Foods.
Cadbury worth more than Kraft bid - analysts
US based market analyst firm Bernstein Research claims that there is more value for Cadbury shareholders in the UK confectionery giant remaining a standalone company should a higher bid from Kraft does not materialise.
Commission sets conditions for Kraft buying Cadbury
The difference between British and continental European chocolate preferences means the acquisition of Cadbury by Kraft would not present competition problems, the European Commission has said, as long as Cadbury’s concerns in Poland and Romania were...
Kraft sells pizza business to Nestlé to fund Cadbury offer
Kraft has sold its frozen pizza business to Nestlé to help fund its offer for Cadbury after Nestlé pulled out of the bidding for the British confectioner.
Kraft questions Cadbury’s long-term targets
Kraft has dismissed the raised long-term growth targets published by Cadbury on Monday, saying the UK confectioner’s prospects are subject to significant risk and uncertainty.
Cadbury's 'aggressive' stance could keep it independent - analyst
Cadbury’s updated statement on revenue growth for the next four years should incentivise its shareholders to hold out for a higher offer than the bid from Kraft Foods or remain independent, according to market research firm Sanford C Bernstein.
Cadbury’s union moves to block Kraft takeover
British and Irish workers at Cadbury have announced a campaign to resist Kraft’s hostile ₤9.8bn ($16.3bn) takeover bid by appealing to shareholders and politicians to block the deal.
Cocoa prices hit record highs
Confectionery manufacturers are facing increasing cost pressures as cocoa futures prices hit their highest levels for 25 years on supply fears.
Kraft still most likely to win Cadbury deal, says analyst
Kraft has mismanaged its Cadbury takeover attempt but is still the favorite to get the deal done, according to Andrew Wood, senior research analyst at Sanford Bernstein.
The chocolate sector looks set for further consolidation with the smaller players struggling to offset higher cocoa prices, claims one market analyst as the rumour mill goes into full gear over potential rivals to Kraft for a Cadbury takeover.
Hershey confirms interest in Cadbury
Hershey has confirmed that it is “reviewing its options” regarding a possible joint bid with Ferrero for British confectioner Cadbury, following media speculation about talks yesterday.
Hershey and Ferrero could bid for Cadbury
Hershey and Ferrero are reported to be considering a joint bid for Cadbury that could put the brakes on a hostile takeover by Kraft.
Kraft’s bid is ‘contemptuous’, says analyst
Even if Kraft intends to increase its bid for Cadbury, its latest offer has probably managed to upset both the board and shareholders, says Andrew Wood, senior research analyst at Sanford C. Bernstein.
Cadbury cites eco concerns for tin swap
Confectionery giant Cadbury is playing up its sustainability initiatives in its seasonal packaging to appeal to consumer demand for a 'green' Christmas.
Investors put price on Cadbury, Kraft deal - report
One of the leading investors in Cadbury has revealed he would consider a bid from Kraft if it were in the region of 820p per share, according to recent media reports.
Pressure on Kraft as Cadbury upbeat on results
Cadbury’s upwardly revised revenue forecasts are a strong defence to the bid from Kraft, claim industry analysts.
Kraft sale could help with Cadbury bid - report
Kraft may look to sell its brand Maxwell House to generate a higher offer to Cadbury, the world's second largest confectionery group, claim media reports.
Cadbury family member attacks Kraft bid
A member of the Cadbury family has attacked the Kraft takeover bid and promised to mobilise family opposition.
Kraft given November deadline for Cadbury bid
The UK’s Takeover Panel has announced a deadline of November 9 for Kraft to make a bid for Cadbury or to say that it does not intend to make an offer.
Kraft reportedly prepares hostile bid for Cadbury
Kraft Foods is reportedly preparing a hostile bid for Cadbury three weeks after the confectionery company rejected a £10.2bn ($16.7bn) offering.
Cocoa price spike may favor Kraft over Cadbury
World cocoa prices have just hit record highs sparking suggestions that the resulting cost changes could aid the Kraft bid for Cadbury.
Cadbury boss makes veiled attack on Kraft’s brand of capitalism
Cadbury CEO Todd Stitzer told a fair trade conference in London on Thursday that taking away its “principled capitalism” would destroy Cadbury’s appeal, according to the UK’s Guardian newspaper.
Cadbury tells Kraft to bid or back off
Cadbury has approached the UK’s Takeover Panel, asking it to impose a deadline for Kraft to make an offer.
Cadbury confident despite Kraft bid
Cadbury has given a confident presentation of its stand-alone strategy in the midst of speculation that the company is unlikely to hold onto its independence following Kraft’s failed take-over bid.
Cadbury has labelled Kraft “a low growth conglomerate” in a letter restating its rejection of the food giant’s £10.2bn ($16.7bn) takeover bid.
Kraft defiant over Cadbury valuation
Kraft Foods has defended its valuation of the Cadbury business and insisted that it remains the most logical buyer for the UK confectionery manufacturer.
Rivals set to go to war over Cadbury
Kraft Foods' rejected bid for Cadbury is likely to trigger a bidding war among the world’s leading confectionery producers, analysts are predicting.
Kraft Foods launches Cadbury takeover bid
Kraft Foods has confirmed it has had an initial takeover bid for Cadbury rejected but said it intends to work towards a deal that would create a $50bn food industry powerhouse.
Cadbury plays down chocolate supply fears
Cadbury has insisted that potential strike action by its workforce will not affect chocolate supply, despite claims made by union officials.
Gum poised to return to form for Cadbury, says analyst
Chewing gum used to be the hot performer for Cadbury but sales have dropped well below chocolate. Bernstein Research now expects the downward trend to be reversed.
Chocolate boom helps Cadbury beat market expectations
Buoyed by strong second quarter chocolate sales, Cadbury has beaten market expectations for the first half of the year.
Cadbury recalls chocolate bar in Australia
Cadbury is conducting a voluntary recall in Australia for one of its products in the Old Gold Dark Chocolate range due to the possible presence of milk protein, which is not labelled on the packaging.
Cadbury workers threaten strike action over pay dispute
Workers at Cadbury are preparing to ballot on industrial action following a pay dispute that sparked protests last week.
Cadbury mulls India cocoa supply strategy
UK-based Cadbury is hoping to extend its presence in India with the confectioner reportedly set to use the country as a major regional production centre for its cocoa supplies.
Cadbury announces plant closure deal in operations shake up
Cadbury says it has reached an agreement with some of its workforce to close a Barcelona-based gum factory as part of an operational shake up of its operations.
US chocolate price-fixing case on hold
An alleged price-fixing case in the US against chocolate giants that include Hershey, Mars, Cadbury and Nestle will be put on hold after a federal judge allows the manufacturers to appeal his decision not to dismiss over 80 anti-trust suits.