Cadbury set to fight back with Kraft Foods defence document
Over the next 14 days we will see the emergence of a defence document from Cadbury in response to the official Kraft Foods offer for the company. It is believed that the Cadbury board will focus upon the many brand names within the group, an ongoing restructuring programme which has seen margins improve already as well as the company's plans to attack a number of emerging markets round the world.
The Cadbury saga is starting to heat up now and while the only offer on the table at the moment is the one from Kraft Foods, analysts expect at least one more offer to emerge in the short term. The £10.1 billion Kraft Foods offer is regarded by many as something of an opening shot and will likely be increased in the short to medium term. The Cadbury share price is sitting significantly above the current offer price which would indicate that investors and analysts believe the offer is too low to be successful.
While on the surface the Cadbury bid saga may appear relatively slow moving, under the surface there appear to be a number of parties jockeying for position and a number of potential consortium bids on the way. Whether they will actually emerge or not we will only find out in due course.
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