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BUSINESS
June 25, 1988 | Associated Press
Jacobs Suchard AG conceded defeat on Friday in the takeover battle for British confectioner Rowntree PLC to Swiss foods giant Nestle SA, which now will displace Suchard as the world's second-largest confectioner. But Suchard, which agreed to sell its 28.4% stake in Rowntree to Nestle for 690 million pounds ($1.2 billion), is walking away with a hefty profit, which analysts estimate at more than 200 million pounds.
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BUSINESS
May 18, 1988 | From Reuters
More than 1,000 people marched on Parliament on Tuesday to protest a $3.9-billion (2.1-billion pound) bid by Swiss food giant Nestle SA to buy Rowntree PLC, makers of some of Britain's most popular candies. The marchers came from cities where Rowntree has plants as well as from the company's headquarters town, York, in northern England, to demand that Trade and Industry Secretary Lord Young refer the matter to the Monopolies and Mergers Commission.
BUSINESS
May 25, 1988 | From Reuters
For more than 250 years, the Rowntree candies company has taken care of the people of York. Now, with Swiss food giant Nestle SA bidding $3.9 billion (2.1 billion pounds) to take over Rowntree PLC, the people of York say it is their turn to help the company. Britons are nostalgic about Rowntree products--its "Don't forget the fruit gums, Mum" was one of the most famous British advertising slogans. Several generations got Kit Kat candy bars or Smarties candies as rewards for being good children.
BUSINESS
April 27, 1988 | From Reuters
Nestle SA presented a takeover offer for Rowntree PLC on Tuesday that valued the British confectioner at $3.9 billion and sparked expectations of a bidding war here between Switzerland's top chocolate makers. Rowntree, which also has been eyed by Jacob Suchard AG, called the takeover offer unwelcome. "It is our intention to remain independent," a Rowntree spokeswoman said, but the firm's continued independence appeared less likely as Suchard responded angrily to Nestle's move.
BUSINESS
June 25, 1988 | Associated Press
Jacobs Suchard AG conceded defeat on Friday in the takeover battle for British confectioner Rowntree PLC to Swiss foods giant Nestle SA, which now will displace Suchard as the world's second-largest confectioner. But Suchard, which agreed to sell its 28.4% stake in Rowntree to Nestle for 690 million pounds ($1.2 billion), is walking away with a hefty profit, which analysts estimate at more than 200 million pounds.
BUSINESS
May 25, 1988 | From Reuters
For more than 250 years, the Rowntree candies company has taken care of the people of York. Now, with Swiss food giant Nestle SA bidding $3.9 billion (2.1 billion pounds) to take over Rowntree PLC, the people of York say it is their turn to help the company. Britons are nostalgic about Rowntree products--its "Don't forget the fruit gums, Mum" was one of the most famous British advertising slogans. Several generations got Kit Kat candy bars or Smarties candies as rewards for being good children.
BUSINESS
May 18, 1988 | From Reuters
More than 1,000 people marched on Parliament on Tuesday to protest a $3.9-billion (2.1-billion pound) bid by Swiss food giant Nestle SA to buy Rowntree PLC, makers of some of Britain's most popular candies. The marchers came from cities where Rowntree has plants as well as from the company's headquarters town, York, in northern England, to demand that Trade and Industry Secretary Lord Young refer the matter to the Monopolies and Mergers Commission.
BUSINESS
April 27, 1988 | From Reuters
Nestle SA presented a takeover offer for Rowntree PLC on Tuesday that valued the British confectioner at $3.9 billion and sparked expectations of a bidding war here between Switzerland's top chocolate makers. Rowntree, which also has been eyed by Jacob Suchard AG, called the takeover offer unwelcome. "It is our intention to remain independent," a Rowntree spokeswoman said, but the firm's continued independence appeared less likely as Suchard responded angrily to Nestle's move.
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