Word: firmnesses
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...company sees things differently. Although its headquarters are in Leuven, where AB InBev can trace its brewing roots back to 1366, the firm's power brokers are Brazilian investment bankers who manage a global empire with a workforce of 120,000 and more than 200 brands of beer, including Beck's, Labatt, Bass and Löwenbräu. It has expanded rapidly, following a series of rapacious mergers and acquisitions in recent years, most notably its takeover of Budweiser brewer Anheuser-Busch in 2008 - after which InBev became AB InBev. But that move also saddled the company with huge...
Getting sweet tooths to give in to temptation has never been too difficult for Cadbury, the world's second largest confectioner. However, resistance, as it's now finding, is hard to maintain. Ending months of hostility, the firm announced on Tuesday, Jan. 19, it had approved a revised takeover bid from U.S. food giant Kraft. Linking Cadbury's Dairy Milk chocolate to Kraft's Philadelphia cream cheese in a $19.5 billion deal, Cadbury chairman Roger Carr said cheerfully in a statement, amounted to "good value for Cadbury shareholders...
...Kraft too, persistence should pay dividends. While the Illinois-based firm has looked sickly in recent quarters, Cadbury has shone. The British business boasts "dominant positions, strong emerging market exposure and the potential for massive margin improvements," Andrew Wood, an analyst with the financial firm Sanford C. Bernstein, wrote in a note to clients on Tuesday. "Kraft," he added, "will benefit from all of Cadbury's strengths." And at a knockdown price. Bagging the firm for a value equivalent to 13 times Cadbury's profit before tax and other deductions amounts to the cheapest food-industry takeover in more than...
...brands, heritage and people" in a statement announcing the deal. Keeping those things in mind may be more important than in most takeovers. Founded 186 years ago when John Cadbury, a Quaker, began selling tea, coffee and hot chocolate out of a store in central England, his eponymous firm enjoys an enduring popularity that distinguishes it from, say, Britain's steel manufacturers or electricity companies. Earlier this month, not far from the site of that original store in Birmingham, fans of Cadbury took part in a mass chocolate-eating event to protest Kraft's interest in the firm. Some sang...
...fell out with his allies in the Bush Pentagon and realigned himself with local Shi'ite politicians). The full list of banned politicians has yet to be published - the commission says that more names will soon be added - but leaks to the press have led to speculation that many firm fixtures in Iraqi politics, like the country's well-regarded Defense Minister Abdul-Kader Jassem al-Obeidi, will now be banned...