Brunswick confirmed that the two partners are working on the proposal in London, while Steve Lipin, senior partner with the firm, is working from New York. Kraft enlisted the firm as an adviser surrounding the transaction.
British-based Cadbury rejected Kraft's proposal and, according to The Wall Street Journal, "verbal jousting" between the two companies has ensued.
According to PRWeek's UK publication, Finsbury works with Cadbury on financial PR. Cadbury recently hired Trevor Datson as head of global financial communications. He confirmed that Finsbury was hired prior to the Kraft proposal and that it is now working on the bid. Finsbury's New York office is also involved in that work, which includes media relations.
In addition, Datson said that Cadbury has an in-house team working on IR with its banks, Goldman Sachs, UBS, and Morgan Stanley.
Analysts have said that other companies could make a bid for Cadbury as well.
"Kraft Foods is committed to working toward a recommended transaction and to maintaining a constructive dialogue and is announcing this proposal as a means to encourage and further that process," wrote Kraft in its news release dated September 7.
Separately, Cadbury is in the midst of a review for a PR firm to work on a number of its brands in the US.
Updated September 9, 2009 5:03pm
Have you registered with us yet?
Register now to enjoy more articles and free email bulletinsRegister