Cadbury dairy milk hazelnut

LONDON (AP) — British candy maker Cadbury PLC on Tuesday accepted Kraft’s improved takeover offer worth $19.5 billion, potentially ending a months-long corporate battle to create the world’s largest maker of chocolate and sweets. The U.S. food conglomerate said the board of Cadbury, maker of Creme Eggs and Dentyne gum, had unanimously endorsed the offer worth 840 pence per share, or 11.9 billion pounds in total. Cadbury shareholders will also get a 10 pence dividend previously promised by Cadbury. The revised bid is for 500 pence cash and 0.1874 new Kraft shares for each Cadbury share, still somewhat less than some analysts believed the company is worth but 50 percent higher than Cadbury’s market value before Kraft went public with its approach. Kraft Foods Inc.’s previous offer of 10.5 billion pounds ($17.1 billion) valued Cadbury at about 770 pence, but was dismissed by the British company’s management as “derisory.” Kraft still has to persuade a majority of Cadbury … [Read more...] about Kraft Foods, Cadbury agree $19.5 bln deal

LONDON (AP) — Kraft Foods Inc. improved its hostile takeover offer for British chocolate and gum maker Cadbury PLC after selling its North American pizza business for $3.7 billion to Nestle, which confirmed it would not make a rival bid. Kraft said it would use the money to increase the proportion of cash in its offer after its deal with Nestle, which includes pizza brands such as Tombstone and Jack’s in the U.S. Nestle, which some had speculated could make its own bid for the Cadbury, ruled itself out of any race to buy the U.K. company. Cadbury shares were down 1.7 percent at 791.50 pence on the London Stock Exchange. Nestle share rose 1.5 percent to 50.95 Swiss francs. Jeremy Batstone-Carr, analyst at Charles Stanley & Co., said Kraft’s move was short of a knockout offer. “Importantly, this offer is not yet said to be final,” he said. “While we note the weakness in Cadbury’s share price on today’s news, implying that the market now views Cadbury’s chance of … [Read more...] about Kraft improves Cadbury offer after sale to Nestle

Just weeks after controversy raged over useless government food handouts for poor children, an opportunity has arisen: buy the tons of quality English cheese languishing in warehouses after the Westminster-imposed hospitality shutdown and post it directly to people in need. With the United Kingdom approaching the first anniversary of its coronavirus lockdown, the hospitality industry — the fleeting ‘eat out to help out’ days aside — remains in a state of stasis, if not outright collapse . This has meant a huge hit on the suppliers to those customer-facing businesses, particularly of perishable goods people love to enjoy while out, but may not necessarily think to buy for home. According to Britain’s state broadcaster, one such sector is speciality English cheese companies, which supplied victuals to restaurants and pubs for piquant postprandial nibbles, but whose customers vanished overnight with the government’s endless on-off lockdowns. Indeed, the BBC notes nearly … [Read more...] about Lane: Boris Johnson Could Call on Spirit of Reagan to Save Britain’s Cheese

A carton of Oatly is arranged for a photograph in Brooklyn on Tuesday, September 15, 2020. Photo: Gabby Jones/Bloomberg via Getty Images In the beginning, milk came from animals. Then, humans, with their trademark ingenuity, realized that milk can come from anywhere: soybeans, almonds, rice, coconuts, even hemp. They milked sunflower seeds and flaxseed, and apparently quinoa and peas, too. But the buzziest thing they milked, the milkable object that really captured the hearts of the bourgeoisie, was a simple cereal grain: oat. I watched vegan friends change their fancy coffee-shop orders overnight, disowning almond milk and going all-in for oat. This was mostly thanks to a single company, Oatly, which launched in the U.S. in 2016. It has celebrity backers like Jay-Z, Oprah, and others and a budding partnership with Starbucks. And soon you’ll be able to get in on the oat-milk craze in a new way, since Oatly is going public. On Tuesday morning, Havre Global AB, Oatly’s parent … [Read more...] about Oatly Is Going Public

People are not the only ones suffering in Texas where a frigid winter storm left millions of people without power. Farmers and ranchers are also struggling to keep animals alive in the bitter cold. The Wall Street Journal reported on the salvage of the huge livestock industry in the state: Forced shutdowns of plants that process milk and make animal feed are disrupting the state’s agricultural supply chains, industry executives said. Some farmers are being forced to dump tankers of milk on fields because it can’t be processed, and state agriculture officials feared livestock may have to be euthanized if they cannot be watered and fed. The situation has turned into chaos for some producers in one of the country’s most livestock- and poultry-heavy states. Texas in December counted about 2.9 million cattle on feedlots, the most in the nation, according to the U.S. Department of Agriculture. The state’s dairies house the country’s fifth-largest dairy herd with about 613,000 … [Read more...] about Texas Livestock Industry Reeling Amid Frigid Winter Storm