Peltz increases stake in Cadbury
June 29, 2007
by FoodBusinessNews.net Staff
LONDON — Activist shareholder Nelson Peltz has increased his take in Cadbury Schweppes to 3.47%, which is 72,965,267 shares.
In March, Peltz bought a 2.98% stake in Cadbury, and Cadbury announced plans for a spin off of its U.S. beverage unit shortly after he bought his original stake in March.
Mr. Peltz is known for buying stake in companies with a goal of forcing changes. He recently bought a 3% stake in Kraft Foods Inc. and is going to reportedly force the company to sell off the Post cereals and Maxwell House coffee businesses.