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Article: Cadbury rejection of Kraft pound(s)10.2bn offer unwise, warns CEO
- Article from:
- The Irish Times
- Article date:
- September 9, 2009
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
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CHIEF EXECUTIVE of Kraft Irene Rosenfeld yesterday warned that
Cadbury, the UK confectionery group, would struggle to remain
independent if it continued to spurn Kraft's pound(s)10.2 billion
cash and share takeover move made public on Monday.
"Given the complexion of the market and the global landscape, we
believe it would be difficult for them to go it alone," Ms Rosenfeld
told Wall Street and City of London analysts on a conference call.
"We believe scale will be an increasing source of competitive
advantage both in confectionary and in the food industry at large,"
she said, as she set out Kraft's arguments that the proposed deal
represented "a significant premium for Cadbury's ...