Robin Geffen's Neptune added more shares in Cadbury yesterday after labeling the latest Kraft approach as derisory.
Geffen says Cadbury's share price, which stands at 764p this morning, offers good current value. "Asking Cadbury's shareholders to give away the company at Kraft's bid is about as appropriate as asking the Queen to give away the Crown jewels for the price of a bag of chips," Geffen says. "We prefer to continue to invest in the proven management of Cadbury's rather than risk investing in a pedestrian food conglomerate."
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
