Hedge funds bite into Cadbury

Date: Wednesday, November 11, 2009
Author: Gwen Robinson, FT Alphaville

Paulson & Co, the New York hedge fund run by John Paulson, has disclosed a 2.08% stake in Cadbury following Kraft’s £9.8bn ($16.4bn) hostile bid this week, signalling growing hedge fund interest in the UK confectionery group following Kraft’s hostile bid. Eton Park was among the few hedge funds to take relatively large positions before Kraft’s  formal offer this week, and now holds 2.4%. Institutional shareholders continue to lead Cadbury’s register, including Franklin Resources and Legal & General.