socialmedian: Kraft set to sweeten Cadbury offer, but unions fear a bitter ending

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Kraft set to sweeten Cadbury offer, but unions fear a bitter ending

Source: The Guardian

Nov 08, 2009

Summary

Fate of hundreds of British workers hangs on the decision of major shareholders Warren Buffett and Nelson Peltz

The fate of Cadbury as a proudly independent confectioner, and the security of hundreds of jobs in the UK and Ireland, may hang on critical decisions taken this weekend by two towering figures in the stock-picking world: American billionaire investors Warren Buffett and Nelson Peltz.

The ageing investors, with 146 years between them, are both major shareholders in America's largest food conglomerate, Kraft Foods, which must decide by 5pm tomorrow whether or not to launch a formal takeover offer for Cadbury. In recent days the two investment gurus have been listening intently, but saying little, as Kraft chief executive Irene Rosenfeld delivers her latest behind-the-scenes acquisition pitch to shareholders.

Away from the rarefied tussle for investor support, a parallel, less seemly, public-image spat is raging over competing claims to be the best home for some of Britain's best-loved brands, such as Dairy Milk, Creme Egg and Bassett's Liquorice Allsorts

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