Hershey's majority shareholder The Hershey Trust has cut its majority stake by 6% from $8bn to $7.5bn, but its voting interest is largely unchanged and analysts don't expect further divestment.
Nordic pick & mix firm Candyking intends to trade 49% of the company’s shares on the Nordic stock exchange to raise brand awareness, pursue acquisitions and to reduce debts.
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 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.
Kraft’s largest shareholder Berkshire Hathaway, run by billionaire investor Warren Buffett, has voted against the issuance of up to 370m shares to acquire Cadbury, it said on Tuesday.
Food and agribusiness firm Bunge has said it has entered an agreement to acquire a Brazilian sugar company with an annual crushing capacity of 15.4 million metric tons.
UK confectionery and snack food group Zetar has seen its share price dive following the revelation that Woolworths owed it nearly £1 million when it went into receivership last Wednesday.
In financial news this week, cocoa prices go up yet again, Cadbury
reveals more de-merger plans, and Sweet China is allowed to return
to the London stock market.
The Trian investment group, led by Nelson Peltz, yesterday called
for Cadbury to make a raft of improvements to its operations,
threatening to take matters out of management's hands if the
requests are not met.
The board of directors at Wrigley has declared a regular dividend
of $0.256 on each share of common stock and each share of class B
common stock for the three-month period beginning 1 August 2006.
Israeli flavour firm Frutarom, with clear ambitions to become one
of the top ten flavour players, is seeking a listing on the London
Stock Exchange to raise funds for imminent acquisitions.
Number one cultures supplier Chr. Hansen is up for sale as its
major stakeholder decides to pull away from the ingredients slice
of the company to focus on the pharmaceutical unit. The move will
make the company's still growing...
The Romanian chocolate sector looks set to become increasingly
competitive as the third largest player, Kandia, prepares to
finalise a merger with Excelent - a move that will create the
leading producer on the market.
Barry Callebaut completes its takeover of Stollwerck with an offer
of €295 per share for the remaining 3.9 per cent. The Swiss firm
said it would welcome investment from former Stollwerck
shareholders in its ongoing business.
