Word: firming
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...Sept. 7, that it had launched a $16.7 billion bid for British confectioner Cadbury, a bold effort to create "a global powerhouse in snacks" worth $50 billion a year in revenues. Cadbury rejected the offer, but Kraft, maker of Oreo cookies and Kool-Aid, showed its sweet tooth. The firm is "committed to working toward a transaction," it said in a statement, "and to maintaining a constructive dialogue...
...Cadbury can't be that surprised by Kraft's interest. Ever since U.S. chocolate giant Mars picked up chewing-gum maker Wrigley for $23 billion in 2008 - overtaking Cadbury to become the world's biggest confectioner in the bargain - analysts have held up the British firm as a compelling target for a firm like Kraft. Cadbury boasts around a quarter of the world's fast-growing gum market, a sector Kraft has missed out on. Its muscle in the U.K., Latin America and key emerging markets like India would also complement Kraft's strengths in the U.S. and Europe...
...earnings potential that looks healthy. Having spun off its troublesome drinks business in 2008, it saw its profits and margins both rise in the first half of this year. Nor is there much concern about Kraft's being able to pull off such a merger. Deals involving a large firm's acquisition of a significantly smaller one - revenues at Kraft are more than four times those of Cadbury - are "the deals that have tended to work," says Martin Deboo, an analyst at Investec Securities in London. "It makes perfect sense for Kraft to acquire Cadbury," Sanford C. Bernstein analyst Andrew...
...artist.” This aesthetic drive was complemented by the influence of Japanese art, which entered the Western consciousness after Japan ended its isolationism and figured into every major Greene project after the 1904 design of the Adelaide A. Tichenor commission. But the striking thing about the firm of Greene and Greene was not the personality that the brothers injected into their designs—which extended beyond residences, though their bungalows became their signature—but the way that they eased their creations into the existing conditions with which they were working. This naturalism made them...
...David Evans, managing director at consulting firm LECG, founder of Market Platform Dynamics and editor of FinReg21.com, says there's no doubt the SEC was asleep at the wheel during the Madoff crisis. However, he believes it's next to impossible to sue a government entity and thinks it would be better if Congress stepped up to help out the victims similar to the way it assisted the automakers and others. He suggests financial assistance be limited to victims that are either nonprofit organizations or have income under a certain threshold...