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Delisting feud: Cadbury agrees to provide financials to E&Y
The valuation deadlock was finally broken in Cadbury’s delisting spat with its minority shareholders as the chocolate maker agreed to provide projected financials to the Bombay High Court appointed valuer Ernst & Young.
Cadbury can definitely sing 'kuch meetha ho jaye' for now, says Ashwin Mohan of CNBC-TV18. It is true as far as their path ahead is concerned. The valuation deadlock was finally broken in Cadbury 's delisting spat with its minority shareholders as the chocolate maker agreed to provide projected financials to the Bombay High Court appointed valuer Ernst & Young.
That would facilitate the DCF or discounted cash flow method of valuation which the shareholders argue is the best method, points out Ashwin. Ernst & Young's earlier valuation was pegged at Rs 1,880 per share.
Last week, Cadbury lashed out at the Investor Grievances Forum (IGF) saying the forum was not justified to intervene in the case. Cadbury said that IGF is politically motivated. IGF represents around 100 Cadbury shareholders.
