UK household name targeted for US takeover

Manufacturing News, Source : The Manufacturer
Published : 14 Mar 2007 10:05

US businessman buys three per cent stake in Cadbury Schweppes; pushing shares up by 10 per cent.

The announcement has moved the confectionery and soft drinks manufacturer into the spotlight as the next possible UK big name to be subject of a takeover bid.

Nelson Peltz, the billionaire businessman, has a reputation for buying company shares with a view to making substantial changes - last year he battled with Heinz, gaining a seat at the boardroom table and initiating major cost-cuts.

According to BBC News, analysts have reported that Peltz could be planning the same fate for Cadbury Schweppes.

For Peltz, this is not his first venture with the group, in 2000 Peltz sold his Snapple fruit drinks business to Cadbury for £749 million.

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