Word: krafts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...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...
...This comes just months after Carr dismissed an initial $16.3 billion approach from Kraft as "derisory." But when Kraft sweetened the terms of a deal - by raising the amount of cash it was offering alongside its own shares - it proved too difficult for Cadbury to resist. At $13.91 per Cadbury share, a 7% premium over Friday's closing price, the new deal is expected to win shareholders' backing before the deadline for approval expires in two weeks. Buoyed by that prospect, shares in Cadbury rose more than 3% in trading on Monday, to $13.70. (See pictures of what the world...
...Unlike most companies, particularly foodmaker Kraft, which is also considering a bid for Cadbury, Hershey is controlled not by investors but by a charitable trust, established a century ago by company founder Milton Hershey to fund the education of orphans. The Hershey Trust, which holds 80% of the voting stock of the candy company, runs the Milton Hershey School not far from the corporate headquarters in central Pennsylvania, and it is required to maintain it in perpetuity. (See which businesses are bucking the recession...
...long-term consequences of such a merger will weigh heavily on the trust-board members since they must consider how it will affect their bottom line far into the future. Outbidding Kraft for Cadbury would force the company to take on a mountain of debt, analysts say, which could damage Hershey's strong credit rating. And raising that money could force the company to issue new stock, potentially diluting the control the trust enjoys...
...takeover target's chocolates performed less impressively under the lamp, though. The standard Cadbury chocolate bar lost a mark for converting to liquid while Kraft's Toblerone picked up one for being able to withstand conditions similar to those inside the Hadron Collider. The triangle-shaped bar soon lost that point again, though, for stabbing the roof of my mouth when I ate it. (See pictures of the Hadron Collider...