Cadbury Schweppes Announces Spin Off

Cadbury Schweppes, the British manufacturer of candy and soft drinks, announced it will spin off its American beverage unit in order to focus on its candy unit.  The announcement was in response to pressure from shareholders, including Nelson Peltz.   Speculation is that both companies would be vulnerable to takeover after the spin-off.  See NYTimes, Cadbury to Separate Drinks and Candy Businesses ; WSJ, In Breakup, CEO Of Cadbury Faces His Biggest Deal.