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Chewing over Adams

16 December 2002 By Rob Cox

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Chewing over Adams

16 December 2002 By Rob Cox, Rob Cox, Rob Cox, Rob Cox

By funding Adams with its balance sheet, Cadbury s net debt to enterprise value nearly doubles to about 40%. Barring any lastminute hitches, Cadbury shareholders will wake up owning a bigger business, but one with higher risk.

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