Tuesday, March 13, 2007

Peltz Stake Boosts Cadbury Schweppes (CSG) Shares

Cadbury Schweppes (NYSE: CSG) said, in response to market speculation, it has been informed by Nelson Peltz that he and certain of his affiliates have interests in 62,465,267 Cadbury Schweppes shares, representing 2.98 % of Cadbury Schweppes' issued share capital.

The stake has sparked takeover rumors on Cadbury Schweppes. Shares of the company are nearly 10% higher in early action Tuesday.

Nelson Peltz, a founding partner of Trian Fund Management LP, has in the past successfully fought to get elected to the Heinz (NYSE: HNZ) board of directors, where he is pushing for changes. Peltz has also successfully pushed for changes at Wendy's (NYSE: WEN) and CBRL Group (Nasdaq: CBRL). Peltz is also the largest holder of Tiffany & Co. (NYSE: TIF), with a 5.5% stake.

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