The chairman of Cadbury Schweppes PLC has...
The chairman of Cadbury Schweppes PLC has asked the government to block foreign raids of Britain’s confectionery companies. Cadbury Chairman Sir Adrian Cadbury told shareholders at the company’s annual meeting in London that the British confectionery industry has been in turmoil since U.S.-based General Cinema Corp. announced last week that it planned to increase its 17.7% stake in Cadbury, possibly through a tender offer. In the same week, Swiss-based Nestle SA launched a hostile $3.9-billion bid for British confectioner Rowntree PLC.
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