Dec 14
Cadbury rejects new offer from Kraft Foods
He had said in November he confirmed Monday. The British confectioner Cadbury rejects bid officially launched by the giant U.S. Food Kraft Foods. In a paper stock, the confectioner highlights the objectives of long-term growth above expectations to show the low supply of Kraft.
Cadbury expects organic growth of 5 to 7% per year instead of 4 to 6%. The profit margin would rise between 16 and 18% by 2013 instead of a margin of about 15% in 2011. He waits finally growth of dividend per share "double digit" from 2010. All of which explains why Cadbury's assets are worth more than 10 billion pounds (about 11 billion euros) proposed by Kraft Foods.
"Kraft Cadbury tries to buy at a discount, to provide some growth in its business model attractive to non-conglomerate low growth, irritated Roger Carr, the chairman of candy in the document.
Hershey, Nestle and Ferrero instantly
The rejection of the offer Kfrat opens an avenue to other agri-food specialists. According to CEO Todd Stitzer British group, "third parties" have actually indicated their interest but he refuses to name them yet.
The U.S. chocolate maker Hershey is in a strong position. Last month, Todd Stitzer had clearly said he would prefer a merger with the latter rather than Kraft because Hershey is already a partner of Cadbury in the United States. The Italian group Ferrero and Swiss giant Nestle are also in the race.
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