Cadbury, the UK chocolate maker, has launched a stinging attack on Kraft, saying there is no strategic or financial merit in a “corporate jewel” being bought by the US hostile bidder. Roger Carr, chairman, said Cadbury would not use the “strategic U-turns, financial engineering or Pac-man defences” common to “weak businesses under siege”, as he urged shareholders to reject the food group’s £10.3bn offer. He spoke as Cadbury published a shareholder defence document urging investors not to let Kraft “steal” their company.

This entry was posted by Gwen Robinson on Tuesday, December 15th, 2009 at 5:03 and is featured in The 6am Cut London (15 Dec 2009) . Tagged with Cadbury, kraft. Edit this entry.