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The Nestlé takeover of rowntree: A case study

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  • Hyde, Dana
  • Ellert, James
  • Killing, J Peter

Abstract

Against a background of weak share price behaviour and weak (although improving) operating performance, Rowntree plc found itself subject to a Dawn Raid on its shares early in 1988 by Jacobs Suchard, the Swiss confectionery company. This seemed a good moment to turn previous collaboration discussions with Nestlé into a full-blown White Knight takeover. However, the discussions were very friendly: complementarity in products was clearly in evidence, and Nestlé saw much synergy through R and D, products, administration and sales force, leading to economies of scale. It is a Case Study of an eminently sensible integration of two companies in a competitive business. The negotiations were conducted in a mature way; there are echoes of style here of later takeovers like the end-1990 acquisition of Cruzcampo, the large Spanish brewery, by Guinness.

Suggested Citation

  • Hyde, Dana & Ellert, James & Killing, J Peter, 1991. "The Nestlé takeover of rowntree: A case study," European Management Journal, Elsevier, vol. 9(1), pages 1-17, March.
    • Handle: RePEc:eee:eurman:v:9:y:1991:i:1:p:1-17
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