跨文化 - Corporate Acquisition.pptx

THANKSCorporate Acquisition Kraft-Cadbury takeover Kaf Food Co., Ltd. (Kaf) (English: Foods Kraft) is the worlds second largest food company, in 145 countries around the world to carry out business, is one of the subsidiaries of the Philip Morris Companies. Employs approximately sixty thousand employees worldwide. Kraft Corporations four core product line for coffee, candy, dairy products and beverages. Kaf in more than 70 countries to carry out business, its products are sold worldwide 150 countries. Kraft and kraft North American international two units respectively, administration of the United States and Canada, and the European market and developing countries.PART ONEPART TWOCadbury Schweppes Limited by Share Ltd is an international group company, headquartered in London, the main production, marketing and distribution of candy and beverage products. Headquartered in London, the company is located in more than and 200 countries. Cadbury is the worlds second largest candy company, the second largest chewing gum company, the third largest soft drinks company, is also the only one with chocolate, candy and chewing gum products company.Acquisition process2009年9月初，卡夫向吉百利提出了103亿英镑的收购价，约等于对吉百利股价溢价31%，被吉百利以出价太低为由拒绝。2009年11月初，在英国收购委员会的最后期限前，卡夫递交了对吉百利的收购建议，仍维持9月时的方案，因卡夫自身股价下跌实际报价不涨反降，吉百利对此作出讥讽回应。2009年11月下旬，收购传闻四起，据传好时（Hershey）集团将以170亿美元抢购吉百利，而雀巢也正在积极研究竞购吉百利。2009年12月14日，吉百利猛烈抨击卡夫食品的敌意收购，敦促投资者不要让卡夫“窃取”他们的公司，呼吁股东拒绝卡夫提出的103亿英镑敌意收购报价。2010年1月19日，吉百利董事会宣布接受美国食品巨头卡夫117亿英镑的收购报价，并向全体股东做出推荐。2010年2月2日，卡夫在其公司网站上宣布，在稍早时进行的吉百利股东表决中，超过71%的股东接受了卡夫117亿英镑的要约收购报价。Acquisition backgroundWith the recession situation under control, the Kraft Corporation should embark on the development of road. However, even if consumers choose to eat more at home, ingredients prices also declined, but the Kraft Corporation is still forced to lower the price of products, and some independent brands to compete. In 2009, Rosenfelds goal is to increase sales by 4%, profit growth of at least 7%. However, in the