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Cadbury survives 2009 as an independent company

Iconic UK operation Cadbury may well have survived 2009 as an independent company put the chances of maintaining its independence in 2010 appear to be getting slimmer by the day. Recent comments by the company, suggesting they would prefer a merger with US outfit Hershey, give the impression that the directors of Cadbury are literally after the best offer and the best price for shareholders. In public they still maintain the company can remain independent but in private, along with many others, there are grave concerns about the future.

So far the US conglomerate Kraft Foods is the only company with a definitive offer on the table, of around £10 billion, but Cadbury believes that other companies are waiting in the wings and biding their time before launching a counter offer. Whether a counter offer does actually emerge remains to be seen but as we saw in 2008 and 2009, market conditions can change dramatically in a very short space of time and nothing should be taken for granted.

While a return to the credit crunch which began in 2007 remains unlikely, nothing can be discounted during this very difficult and very uncertain economic climate. Who knows what tomorrow brings, never mind next year!

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