Monday newspaper round-up: Cadbury, RBS/Lloyds, VodafoneKraft, the American food company, is poised to initiate a hostile takeover bid for Cadbury today at or slightly above the offer it made in September, which valued the British confectioner at Ł10.2bn, according to a person familiar with the deal.Last night Kraft was finalising plans to go directly to shareholders of Cadbury before the UK Takeover Panel’s “put up or shut up” deadline expires at 5pm, the Times reports. Three of the City’s leading stockbrokers have written to Lord Myners, the City Minister, accusing Royal Bank of Scotland and Lloyds Banking Group of “corporate bullying” by forcing companies that owe money to the banks to use their investment banking services. In an unprecedented act of solidarity, three of the Square Mile’s fiercest rivals — Tim Linacre, chief executive of Panmure Gordon; Oliver Hemsley, chief executive of Numis; and Alex Snow, chairman of Evolution — allege that when a company holds a rights issue to reorganise its debt, the banks will continue to lend to it only if it uses their brokerage and capital markets units for the deal, the Times reports. Insurance giant Axa Group is readying a €2bn (Ł1.8bn) rights issue that could be launched as early as Monday. France's biggest insurer is plotting the capital-raising to fund potential acquisitions in a sector that has been ravaged by the financial crisis. Bankers at BNP Paribas and HSBC have been appointed to work on the capital-raising, the Telegraph reports. |
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| P/E: 13.9 | Div Yield: 4.4% 
| P/E: 9.1 | Div Yield: 1.1% 
| P/E: 8.6 | Div Yield: 4.6%
| P/E: 8.6 | Div Yield: 5.7% 
| P/E: 30.4 | Div Yield: 2.2%
| P/E: 7.9 | Div Yield: 5.7% 
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