Cadbury investor wants much bigger payout

One of Cadbury's top shareholders thinks the U.K. chocolate maker is worth more than $20 billion and wouldn't back a takeover bid by Kraft Foods along the revised terms that have been reported in recent days.

Speaking in an interview on BBC radio, David Cumming, Standard Life Investments' head of U.K. equities, said Cadbury's management team has done a good job and that Kraft would need to pay a "full price" to get long-term shareholders on its side.

The price in the press I noticed at the weekend, talking about 8 pounds to 8.5 pounds -- that would not secure support from companies like ourselves," Cumming said.

Read Full Article from MarketWatch

- Posted: 2010-01-18 11:33:27

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