Reuters first with Gabelli backing Cadbury sale at 820 pence/share

Reuters broke news on Oct 26 that influential U.S. investor Mario Gabelli suggested that a Kraft bid for Cadbury pitched around the 820 pence mark could succeed. He told Reuters that he was “willing to sell at whatever price is on the table”. Gabelli’s comments follow similar remarks made by a top ten Cadbury shareholder to Reuters indicating that shareholder consensus is building around a possible bid at the 820 pence mark. Cadbury shares, which had already been falling, fell further after the story hit the wire.