LONDON: For the senior management of Cadbury Schweppes, the flavor of chocolate last week acquired a more bitter taste as interventionist shareholder Nelson Peltz upped his 2.98% stake in the confectionery and soft drinks giant to 3.47%.
According to a regulatory filing, Trian Group - Peltz' investment vehicle - now holds almost 73 million shares in the UK-headquartered company.
The tactic mirrors Peltz's (pictured) successful move on HJ Heinz in March 2006, which resulted in his winning two seats on the company's board and a radical change (and improvement) in its marketing strategy.
Data sourced from Wall Street Journal Online. additional content by WARC staff