SPONSOR<\/span><\/p>\n Irene Rosenfeld, the chief executive of Kraft, has been dealt an extraordinary snub by two leading shareholders in Cadbury after trying to launch a charm offensive. <\/p>\n
Ms Rosenfeld has sought to meet a number of institutional investors in the British confectionery group before next week\u2019s final deadline for Kraft to raise its hostile \u00a310.5 billion takeover bid for Cadbury. <\/p>\n
However, it is understood that at least two of the shareholders have told Kraft that they are uninterested in meeting Ms Rosenfeld, arguing that there would be little point in their doing so until she was prepared to contemplate raising Kraft\u2019s offer for Cadbury. The Times<\/i> has been told that one of these was Deutsche Bank\u2019s asset management division. <\/p>\n
A number of other shareholders, including Legal & General and Scottish Widows Investment Partnership, have agreed to take part in the meetings, which have been scheduled for tomorrow and Thursday. But it is understood that they, too, have made clear that they have no intention of accepting Kraft\u2019s offer while it remains pitched at the existing price. <\/p>\n