The Cadbury board announced today that they would recommend the offer from Kraft. Although theoretically it’s not over till the shareholders agree.
Yet the offer includes quite a lot of Kraft shares. It isn’t clear that I’d want them. Even if overall there’s a big offer.
A smaller company has a lot more potential than a big one with no new ideas. You could say the price takes that into account.
Overall this is a bad day for UK Ltd. It’s aggravated by the purchaser not being one I have any empathy with. Although it was suggested Hershey might take over Cadbury even though it’s a lot smaller. That would also be an irritation.
Add it to the list of ICI, P&O, British Oxygen, Rolls Royce, Jaguar, Mini, Pilkington and so on.