Academic

So, in a time that is a little light on interesting mergers and acquisitions, here's a story we can chew on for awhile.  (Ha, ha.)  Kraft has made a bid for Cadbury, at a price with a substantial premium (31% over share price), only to be told that it is way too low.  Well, there goes that whole efficient market thing.  Cadbury is in the middle of a strategic plan to increase profitability and share price, and here comes Kraft trying to buy into that momentum.  WSJ story here; NYT story here.  Cadbury is known in Europe for chocolate, but it also has gum.  Kraft doesn't have gum.  In recessions, people eat gum.  Hmmm.

Stay tuned.  Hershey, which already has a distribution deal with Cadbury, may jump in.