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Cadbury

$14m a sweet result

A site that had produced taste bud delight for 40 years been sold after four years on the market, but lovers of confectionary favourites Minties, Jaffas and Pineapple Lumps need not fear it will affect their supply.

Years to regain trust - Cadbury

Confectionery giant Cadbury says it will take “years not months” to rebuild consumer trust in New Zealand after widespread criticism over its use of palm oil.

Daniel Ellis, corporate affairs manager for Cadbury’s owner Kraft Foods, says New Zealanders have been a lot more “passionate” about the fact that Cadbury chocolate containing substituted cocoa butter with vegetable fat, including palm oil, was on shelves for 10 weeks before it was exposed.

Food companies unfairly targeted by media bashing

New Zealand’s major food companies are run by evil goblins who sit in their offices counting piles of cash while selling us dodgy, over-priced food they’ve deliberately changed the flavour of to ruin our childhood memories.

Well, maybe not, but you’d be forgiven for thinking that if you had been following some of the recent media coverage of the companies that supply most of the food we put on our tables.

Over the past few months New Zealand’s intrepid media have uncovered some shocking scandals in the food industry:

Land Disinformation New Zealand

Among some high-profile Overseas Investment Office consents granted last month was a very mysterious application.

The list of OIO decision summaries for February - released by Land Information New Zealand - features approval for Kraft’s takeover of Cadbury’s New Zealand assets and Aussie company Amalgamated Holdings’ purchase of Sky City Cinema Holdings.

But one of the decision summaries is titled “Confidential” and it details consent being granted for a purchase by a 100% Australian-owned applicant of a 100% New Zealand-owned vendor.

Wall Street stocks rebound to recover Friday's big drop

Stocks on Wall Street rebounded to recover all of last Friday’s 100-drop on the blue chip index, pushing the market to a 15-month high.

Healthcare shares reacted positively to indications new legislation may fail after an upset Republican win in the Massachussetts senatorial by-election to choose a successor to the late Edward Kennedy.

Cadbury finally yields to Kraft Foods' sweeter bid

Long-term Cadbury shareholders have been rewarded with a 50% gain over the pre-bid price after finally bowing to a new takeover offer from Kraft Foods.

The new offer comprises 500p a share in cash and Kraft stock worth a total of 840p, In addition, Cadbury will pay a special 10p a share dividend. All up, it is worth £11.9 billion ($US19.7 billion).

It was sweet enough to convince Cadbury’s long-standing shareholders, who had resisted the bid.