Nelson Peltz' Trian Raises Stake in Cadbury Schweppes (CSG)
Shares of Cadbury Schweppes (NYSE: CSG) are slightly higher today after the company confirmed that Nelson Peltz' Trian raised their stake in the company from 3.47% to approximately 4.5%.
Cadbury Schweppes said it is their understanding that the instrument through which the increased interest is held is not reportable and it has not received formal notification of the increase in writing.
Because Peltz owns less than 5% of the shares, a 13D is not required to be filed with US regulators related to the ADR.
Following Peltz' involvement in the stock back in March, Cadbury Schweppes announced plans to separate its confectionery and Americas Beverages businesses. After trying to unsuccessfully sell the Americas Beverages unit, due to the credit market freeze-up, Cadbury Schweppes is now spinning-off the business.