CADBURY - where are the private equity boys?
In an interview with Dow Jones, Kraft's VP for Food Strategy, Michael Osanloo, spoke clearly about how his company views the rejected Kraft bid for Cadbury.
Osanloo stated that:
a) times are a different, and the key thing to focus on is the premium to the prevailing share price that Kraft has offered in its cash + equity deal of 745p. He makes reference to the premium of the Mars/Wrigley’s deal of 28%, which is less than the 31% premium in the Kraft/ Cadbury offer to the prior day price (not the longer term average) and times have changed,
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