However, who is correct? 16 Oct 2009 11:35
‘LONDON (Reuters) - Kraft's bid for Cadbury has been a warning shot to asset managers that there are good brands in the FTSE index that are undervalued, said a senior manager at fund house Threadneedle.
"UK fund managers and institutions thought that Cadbury was too expensive relative to the market at 14.5x P/E, but Kraft came in with an offer at a 35 percent premium," said Chris White, manager of the UK Growth & Income Fund, which has some 246 million pounds of assets.’