Cadbury Schweppes Share Discussion Threads

[montyhedge] 06/11/2009 10:55

820p a share thats the guessimate. Fingers crossed chaps.

[montyhedge] 06/11/2009 10:55

Bid news later today when Wall Street opens at 2.30pm.

[spob] 06/11/2009 03:00

Cadbury board met yesterday to discuss Kraft results

By Rachel Rigby and Lucinda Guthrie

FT

Published: November 5 2009 12:03


UK-listed confectioner Cadbury held a board meeting yesterday afternoon to be kept abreast of developments following Kraft's third quarter results that were announced on Tuesday, people familiar with the situation told dealReporter.

"It is normal for the Cadbury board to be discussing tactics with its advisers, with the expectation of a bid coming," another source with knowledge of the situation said. "Kraft's results being weaker than expected would need to be considered and the board need to be kept appraised of developments," the source added.

Two people familiar with the situation said that Cadbury still has not received any contact from Kraft regarding a firm offer. The people expected that if Kraft were to make a firm offer it would wait until Monday, the last day permitted under the UK Takeover Panel's 'put up or shut up deadline', since it has always played a long game and has no overwhelming need to do it on Friday, the people thought. "Thank goodness there is a 'put up or shut up' in place," one person said.

The other noted that Monday was the most likely timing for any bid since Kraft will be talking to its own shareholders in the next couple of days, bringing them onside. "Kraft led people to believe it would have good results and then it did not. This could anger its shareholders ... they would have to be brought back onside."

Kraft met Cadbury regarding the potential deal on 29 August. The proposal was knocked back and Kraft quickly went public with its bid on 7 September. Kraft now has until 9 November to come back with a firm offer for Cadbury after it was issued with the UK Takeover Panel's bid deadline. The current bid offers Cadbury investors 300p per share in cash plus 0.2589 Kraft for each share owned.

A person close to Kraft noted that any firm offer would be subject to standard pre-conditions such as regulatory approvals and an acceptance condition. But at the 9 November deadline, Kraft would have to launch an offer with conditions, rather than a 'pre-conditional offer', or walk, they added. Asked whether Kraft would make contact with Cadbury before launching a firm offer, this person questioned whether Cadbury would want to enter into discussions. "We know what they would respond."

The Cadbury camp has questioned why Kraft has not yet submitted a filing with the SEC including the details of the takeover. However, the person close to Kraft pointed out that it is normal not to start an SEC filing before deciding on a firm bid. The person added that the Kraft camp believe there is plenty of time within the UK takeover offer period to facilitate the SEC's approval process that can run anywhere from two weeks to 90 days. Kraft would not be 'timed out' in the process, this person said.

Cadbury and Kraft declined to comment.

[spob] 06/11/2009 02:31

If no news today, i think we will have a formal bid on Monday

If news today, i think it will be Bad


So here's hoping for no news from Kraft today :)

[kumala] 05/11/2009 16:00

MMMM, You realy think barc will shoot up, Im not sure , Im holding Barc as well at this time.
Cadbury down around 50 points from its high now and well past my get out stop point, am still holding but the faith is being tested,
K

[frankiestheone] 05/11/2009 15:15

no, but i will be kumala if they drop back a bit more and barc shoot up after 10th...if not, then plan B

[kumala] 05/11/2009 14:35

Unilever not interested in Cadbury..............!
K

[kumala] 05/11/2009 10:33

All very quiet..... zz zz
K

[frankiestheone] 04/11/2009 19:57

kraft have raised 5.5bln in cash, I dont think they would have done this unless they will raise there bid or make more cash offer...game on

[talon13] 04/11/2009 13:31

A bid at 820p would make me happy enough to eat my underpants!

[montyhedge] 04/11/2009 13:17

The bid will happen, turned bullish, it may be hostile at 820p.

[montyhedge] 04/11/2009 13:10

Buffet wants the deal done, because it will be good for sentiment on all shares and the xmas rally could start early on Monday. 820p without a counter bidder.

[rolobollo] 04/11/2009 13:03

Very disappointing so far drifting like a fart in the breeze, if something doesn`t happen soon it will dive.

Holding- but not too tightly!

[montyhedge] 04/11/2009 13:01

If Kraft offer 820p thats not a knock out price and a rival will be entice to come in and counter bid, a knock out price at 875p would seal the deal.

[frankiestheone] 04/11/2009 12:56

turnover down, they need growth thats why the WILL bid for cbry and they will have to raise the offer. I recon 830p

[tr65] 04/11/2009 12:53

No they won't!

[montyhedge] 04/11/2009 12:42

They will walk.

[tr65] 04/11/2009 11:37

Not so simple if the share price recovers and is back to 800p by then.

[montyhedge] 04/11/2009 10:48

They will walk away Cadburys fall 200p then come back in a year and bid 675p, simply really.

[kumala] 04/11/2009 10:47

dont like the share price Slipage, does not bode well.............
K

[topicel] 04/11/2009 10:27

Yeah, me to, but if it needs six months to get there then with a dividend it will have to be.

I certainly ain't selling out at a loss. Even a year or two will find Cadbury still on many radars - and maybe competitive radars at that - so that's why I would stay.

But understand the need to reinvest elsewhere all the time!

Topicel

[kumala] 04/11/2009 09:02

Ha discount on chocy bars, luvly jubly, that would just excelerate my addiction to nw highs.
I for one would prefer to get this wraped up rather than see the share price drift and wait 6 months for a possible new bid to arive, I am looking to exit CBRY at the first possible moment, cash is needed else where.
K

[kumala] 04/11/2009 08:56

They might be playing it crafty and holding out to the bitter end to table a bid, with no other suiter on the horizon at this time Kaft could well come in with a bid around the £8.20 bracket thinking that is all Cadbury is worth and no biding war in sight, this is not to say some other party is not going to come into the arena, but is closely watching from the side line untill the Kraft bid is tabled, then WHAM a counter knockout bid arives outa the blue at £8.90, tasty.
The bid will have to be above the £8.00 mark if only to make up teh shortfall in the propotion of the Kraft shares being incorporated.
From a P I point of view though an all cash offer would be better on one hand.
Just my thoughts.
K

[topicel] 04/11/2009 08:48

Same re-hash as the Chicago Tribune then Kumala.

I think no-one knows what the score is, and we must await the next play. I don't like the Kraft share price drop, it may also signal the US markets are not happy about the bid and its repercussions?

I to am staying put, we can always get dividends in the meantime and it will resume again in six months if neither a hostile bid or another rejection occurs.

Conditions will be better in 2010 too. Don't we get discounts on sweeties for loyalty/share ownership?

Topicel