Robin Geffen's Neptune added more shares in Cadbury yesterday after labeling the latest Kraft approach as derisory.
Geffen says Cadbury's share price, which stands at 764p this morning, offers good current value. "Asking Cadbury's shareholders to give away the company at Kraft's bid is about as appropriate as asking the Queen to give away the Crown jewels for the price of a bag of chips," Geffen says. "We prefer to continue to invest in the proven management of Cadbury's rather than risk investing in a pedestrian food conglomerate."
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