Sun, 06/13/2010 - 09:02 by Rakhi
Vancouver, British Columbia -- Canadians could get a sweet deal worth $6 million to end a chocolate pricing conspiracy case against Cadbury Adams Canada Inc. after a judge allowed the offer.
The British Columbia Supreme Court ruled Friday to allow the settlement agreement offered by Cadbury and its distribution company, Itwal Ltd., the Canadian Broadcasting Corp. reported. Hershey Canada Inc. is appealing the decision, the broadcaster said.
Cadbury is named in a class-action suit along with Hershey, Nestle Canada Inc. and Mars Canada Inc. The suit came after Canada's Competition Bureau alleged the manufacturers conspired to artificially inflate the price of chocolate bars sold from 2001 to 2008.
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Tue, 01/19/2010 - 12:30 by Ishita Sood
London, January 19 -- A new era awaits for chocolate maker Cadbury as American food giant Kraft has bought the London-based firm for 11.7 billion pounds ($19 billion).
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Wed, 01/06/2010 - 13:08 by Jamie Anderson
Harrisburg, PA, January 6 -- The members at the helm of affairs at Hershey Co. (NYSE: HSY) could not reach a unanimous decision as to whether the company should make a bid for Cadbury Plc (LSE: CBRY, NYSE: CBY) or not.
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Mon, 12/14/2009 - 21:43 by Inderjit Singh
London -- British chocolatemaker Cadbury worked to fend off a hostile takeover bid by Kraft Foods and said it had other potential buyers it would not discuss.
To ward off a $16 billion bid from Kraft that Cadbury Chairman Roger Carr said was an effort to buy the company "on the cheap," Cadbury raised its revenue and profit expectations Monday, saying revenue would grow up to 7 percent, while margins would increase from 16 percent to 18 percent by 2013.
Carr warned shareholders, "don't let Kraft steal your company with its derisory offer."
"Cadbury is a particularly attractive asset in the sector with iconic brands, a sharp category focus and an enviable geographic footprint," he said, The Times of London reported
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Tue, 12/01/2009 - 11:27 by Rakhi Kaptiyal
London -- Union leaders in Britain said a Kraft Foods takeover of Cadbury could result in "massive" layoffs, to make the acquisition cost effective.
Kraft is working on final details for a $16 billion bid for the British chocolate maker that it said it would submit by Friday, The Times of London Online reported Monday.
Kraft said it would keep a Cadbury plant in Somerdale, England, open, but union leaders said after a meeting with Kraft representatives that the company would offer no guarantees on the number of positions it may shed.
The union, Unite, said it was "growing increasingly concerned that U.S.-based transitional Kraft will pay for its bid for Cadbury with massive job losses in the U.K. and Ireland."
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Mon, 11/23/2009 - 16:36 by Neka Sehgal
London, November 23 -- The takeover struggle for Cadbury has intensified with more companies showing an interest in acquiring the UK chocolate maker.
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Thu, 11/19/2009 - 14:11 by Ishita Sood
Just when Kraft Foods was in the hope of capturing Cadbury, an obstruction came in its way, in the form of Hershey Co. and Ferrero International.
Both the companies recently confirmed that they were now in line to make offers for the $16.7 billion bid and give competition to Kraft.
The news bought fresh optimism in the share market raising the price of Cadbury shares by 1.2 percent. Shore Capital’s Darren Shirley says, “There’ll be plenty of ups and downs for Cadbury’s shares over the coming months.”
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Wed, 11/18/2009 - 20:09 by Neka Sehgal
London, November 18 -- The prospects of 63-year-old Ferrero Spa teaming with Hershey Co. (NYSE: HSY) to bid for Cadbury (NYSE: CBY) are growing after the U.K. confectioner rejected a $16.8 billion unsolicited offer from Kraft Foods Inc.
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Mon, 11/09/2009 - 14:55 by Ishita Sood
London, November 9-- U.S.’s largest food and beverage company Kraft Foods Inc., is expected to formalize the takeover bid for Britain's Cadbury which is valued at 10.2 billion pounds ($16.7 billion)
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Mon, 11/02/2009 - 11:37 by harsheeb
London -- British confectioner Cadbury is preparing for a $16 billion hostile takeover attempt by U.S. food conglomerate Kraft, analysts say.
With a British regulatory deadline looming for Kraft, analysts foresee the American company rejecting a "friendl negotiations" avenue and instead opting to launch a hostile bid after Cadbury turned down a buyout bid in September, The Sunday Times of London reported.
Without naming sources, the newspaper said Kraft CEO Irene Rosenfeld is putting the finishing touches on a takeover bid that must be submitted by a Nov. 9 deadline imposed by Britain's Panel on Takeovers and Mergers.
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Mon, 09/07/2009 - 20:44 by Jaspreet Kaur
London, September 7 -- The U.S. food giant Kraft Foods Inc. (NYSE:KFT) on Monday proposed a 10.2 billion pound ($16.7 billion) merger bid for British maker of chocolate, gum and candy, Cadbury PLC (LSE: CBRY, NYSE: CBY). However, the proposition was instantaneously declined by Cadbury.
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Mon, 09/07/2009 - 19:59 by Inderjit Singh
London -- British chocolate maker Cadbury PLC Monday said it rejected a $16.7 billion merger offer from U.S. foods manufacturer Kraft Foods Inc.
A statement released by Cadbury confirmed reports Kraft, of Northfield, Ill., had made the offer but its board of directors had rejected it, saying it "fundamentally undervalues" the venerable candymaker and it remains confident in its "standalone strategy and growth prospects as a result of its strong brands, unique category and geographic scope."
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