Cadbury CEO has investor support to reject Kraft

Bid-target Cadbury Plc stressed on Tuesday it had good support from its shareholders in repelling the hostile bid from Kraft Foods and should be able to deliver on its financial targets for 2010.

"Our shareholders are very clear, our independent standalone value is much preferred to the bid which is on the table. We do have good support," Cadbury's Chief Executive Todd Stitzer told Reuters in an interview after releasing its final bid defense.

He added that although it was very early to comment on 2010 he was confident of meeting sales and margin targets in the future after its successful track record.

Read Full Article from Reuters

- Posted: 2010-01-12 11:55:21

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