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Geffen slams Kraft takeover bid

Neptune founder Robin Geffen has slammed Kraft Foods takeover of Cadbury’s, claiming it is a “bad deal for everyone”.

Geffen says the £11.5bn bid from the US giant involves part payment in Kraft shares which he says are unappealing given their current level and the high level of debt.

He says: “Shareholders don’t get a full value, bank holders will likely suffer a down grade and employees will lose their jobs in large numbers. Sadly, Cadbury’s management won’t fight on and too many large shareholders are focused on very short-term performance.”

Earlier today Cadbury’s chairman Roger Carr confirmed that job losses were an “inevitability” on the back of the deal.


Conway takes over sales in Cofunds’ reshuffle

Cofunds has reshuffled its management team, with marketing and proposition director Alastair Conway also taking on the sales remit. In an internal memo to staff seen by Money Marketing, chief executive Brett Williams says Conway now becomes sales and marketing director. Cofunds founder Andy Creak, who left the platform last October, was managing director responsible […]


Public reject paying fees for advice

Only 3 per cent of consumers would be prepared to pay over £100 per hour for independent advice and half would not pay any fee, according to Aviva research. An ICM poll of 2,053 consumers conducted for Aviva shows that 50 per cent of people would refuse to pay anything for independent advice and would […]


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