Cadbury boss will fight Kraft takeover
Dairy Milk maker Cadbury is set to ramp up its defence against Kraft’s £10.2bn takeover bid when chief executive Todd Stitzer addresses investors and analysts at Sanford Bernstein’s London offices tomorrow.
Stitzer is also understood to be considering bringing forward the confectionary group’s third quarter results in a bid to reassure investors of the company’s strong trading and its viability as an independent firm.
One industry observer said: “Stitzer’s visit will need him to reassure investors and set out his future vision for Cadbury as a stand alone business.”
The visit follows a terse letter from Cadbury chairman Roger Carr to Kraft chief executive Irene Rosenfeld which said the bid was “unappealing.”