Word: rivale
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Kraft's unsolicited bid to take out candy giant Cadbury PLC in a GBP10.2 billion ($16.7 billion) deal has Wall Street placing bets on whether rival Hershey Co. will jump into the fray...
...loan guarantees. The German government also made it clear it wouldn't stump cash for any other bidder. Some politicians accused Merkel of "blackmail" and warned that her government's support for Magna could backfire. Initially, GM had serious reservations about Magna's offer and seemed to favor a rival bid by the Belgian-based investor, RHJ International. One GM official said RHJ's offer was "simple and elegant." In particular, GM was uncomfortable with a Russian company getting its hands on Opel's technical expertise and patents...
Cadbury swiftly dismissed Kraft's bid as too low, but speculation is running rampant on Wall Street that Cadbury is now in play and that either Kraft will sweeten its offer or another rival, such as Hershey, will step up. Industry experts speculate that bidding could exceed $21 billion before a merger is clinched. Read "Chocolate, Meet Choco-Luxe...
Some industry experts now wonder if the Hershey Trust will rethink its stand in light of the Kraft bid. After all, if Kraft ups its ante and succeeds in acquiring Cadbury, it would create a combined company that would rival Mars in size and reduce Hershey to a distant fourth in the confectionary market with only a 4% stake, estimates Stifel Nicolaus analyst Christopher Growe...
...problems have been exacerbated by the global consolidation of the security industry. In 2008, ArmorGroup was bought by G4S, the largest security company in the world. G4S also bought ArmorGroup's rival, Wackenhut, which now runs ArmorGroup in the new conglomerate. Before they found themselves under the same big tent, Wackenhut and ArmorGroup had competed for the U.S. embassy contract, which ArmorGroup won with a substantially lower bid. Now, Wackenhut has found itself managing the Kabul embassy contract anyway. In June, Wackenhut vice president Samuel Brinkley admitted to Congress, "We feel we can safely say that adequate guard services...