Activists Pressed for Kraft Spinoff
After spending $19 billion last year to buy Cadbury PLC, food giant Kraft Foods Inc. said it was splitting in two, a move that came as shareholders behind the scenes were advocating for a breakup.
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The surprise announcement Thursday is an acknowledgment that Kraft, the world’s second-largest global-food company by sales behind Nestlé SA, can’t rev its shares by mixing together higher-growth brands such as Cadbury chocolate with refrigerator staples such as Oscar Mayer lunch meats and Jell-O desserts. The Wall Street Journal – Read more…
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