Peltz Wins Allies In Battle Against Cadbury

Dec 24 2007 | 10:26am ET

Activist investor Nelson Peltz has received the backing over several other large shareholders in his battle with candy giant Cadbury-Schweppes.

The Trian Fund Management chief this week demanded an improvement in the company’s performance—or else—and other top stakeholders are indicating their agreement, the Financial Times reports. Peltz, whose fund owns about 4.5% of the company, said he would consider “alternatives”—likely a proxy or takeover bid—if he doesn’t see a better bottom line.

Worse for Cadbury, at least two other shareholders echoed his Peltz’s sentiment. David Herro of Harris Associates, which owns 2% of the company, said Peltz “hit the nail on the head,” adding that “Cadbury’s management has a lot to show in terms of execution.”

Meanwhile, mutual fund giant Franklin Mutual Advisers, which owns 4% of the Cadbury, said, “the company isn’t realizing its full potential.”

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note