Clifford Chance bags sweet role for Kraft
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Clifford Chance has bagged a lead role advising Kraft on its $16.7bn bid for Cadbury.
Longstanding Kraft adviser and New York-based Clifford Chance partner Sarah Jones is leading a team from the magic circle firm alongside London-based partners Robert Crothers and Guy Norman.
Earlier today, British-based Cadbury rejected the $16.7bn bid from US rival Kraft. It is thought Kraft’s bid may now encourage rival bids for the confectionary company.
Clifford Chance has advised Kraft on a number of deals in recent years. In May 2007 Jones led a team advising the company on its $7.2bn acquisition of Danone’s biscuit business.
While it is yet to be confirmed, Cadbury is likely to look to longstanding adviser Slaughter and May for advice.
Earlier this year Slaughters partner Matthew Tobin led a team advising Cadbury Schweppes Finance on its £300m bond issuance (30 March 2009)
In 2005 London corporate partner Tim Boxell acted for Cadbury Schweppes when Lion Capital and Blackstone Group bought the European drinks business for £1.27bn.
Both Clifford Chance and Slaughter and May declined to comment.
