Eton Park Capital Acquires $300mm Stake in Cadbury

September 12th, 2009
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In a move pre-empting a potential hostile takeover of confectioner Cadbury plc (NYSE: CBY) by rival Kraft (NYSE: KFT) or other possible suitors, New York hedge fund Eton Park Capital Management has bought a $300 million stake in the company. According to an article from the Telegraph, although Cadbury has rejected Kraft’s bid, the hedge fund manager believes a deal will be made eventually.

Aside from Eton Park and Nelson Peltz’s Trian Group, institutional investors have remained inactive in either company’s shares, reflecting the nascent uncertainty of the deal at present. Mario J. Gabelli’s GAMCO Asset Management is the third largest institutional holder of Cadbury with a 3,601,087 share or 1.1% stake. Over the second of 2009, Gabelli’s firm added a paltry 45,486 shares to its position.

Eton Park Capital Management was launched in 2004 by Eric Mindich. Prior to founding the firm, Mr. Mindich was a partner at Goldman Sachs where he was senior member of the Goldman Sachs Principal Strategies group.
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For Detailed Investor Profiles on these Investors, click below:
Eton Park Capital Management
GAMCO Asset Management
Trian Group
Related People: Aaron Wertentheil; Alain Demarolle*; Alan Batkin*; Dirk Donath; Ed Garden; Eric Mindich; Howard F. Ward; Mario J. Gabelli; Nelson Peltz; Peter May; Ralph F. Rosenberg*
Related Entities: Eton Park Associates LP; Eton Park Emerging Markets Fund LP; Eton Park Fund LP; Eton Park Master Fund, Ltd; Eton Park Overseas Fund Ltd; Gabelli & Company, Inc.; Gabelli Asset Management*; Gabelli Growth Fund; Gabelli Small Cap Growth Fund; Gabelli Value Fund; Goldman Sachs Principal Strategies*; R6 Investors*; Trian Capital; Trian Credit Partners; Trian Fund Management, L.P.; Triarc; Triarc Companies*; Wendy's/Arby's Group, Inc.(NYSE: WEN)
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions

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