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...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 Wood wrote in a note to clients Monday. "And they should...
...assessment that Kraft's approach "fundamentally undervalues the group and its prospects." As a multiple of Cadbury's sales, for instance, Kraft's offer amounts to roughly half that tabled by Mars in its acquisition of Wrigley, says Jeremy Batstone-Carr, an analyst at brokers Charles Stanley in London. Expectation of a second bid from Kraft, a fresh one from Switzerland's Nestlé or U.S. confectioner Hershey, or even a combined approach from Kraft and one of its rivals pushed Cadbury shares 40% higher Monday. (Read about the world's best chocolate...
...These are common genes, we all have them," Michael Owen, a member of the U.K. team, told reporters at a briefing in London announcing the results. "The key issue is what hand of cards you are dealt, the combination of genes you have that determines your risk...
Compassion, says the Oxford English Dictionary, means "suffering together." There has been plenty of that among politicians in London and Washington since Scotland's Justice Minister freed Lockerbie bomber Abdel Basset Ali al-Megrahi on "compassionate grounds" Aug. 20, citing doctors' reports that he was dying of prostate cancer. Al-Megrahi, the sole person jailed for the deaths of 270 people in the 1988 bombing of a Pan Am airliner over Lockerbie, Scotland, had served just eight years of a 27-year sentence. After all their grieving, the victims' loved ones had to watch al-Megrahi land in Tripoli, Libya...
...1970s, and one of the only instances of switching from the right to the left; virtually every other change has been the reverse. Worried about increased accidents, tens of thousands of Samoans have protested the plan. As a Samoan lawyer opposed to the switch told the Times of London, "Cars are going to crash, people are going to die, not to mention the huge expense to our small country." (Read "Zero-Emission Cars: A Battle Among Technologies...