This month (September 2009) breaking news for the food industry would be the attempted (at the time of writing) take over of Calbury by Kraft food.
When the total business combined it is worth more than 50 billion so the take over fees is a staggering 10.5 billion UK pounds!
Thus far, Calbury has rejected the bid, and it is my belief that more players might come into the picture. For example, Nestle which also have a size able share in the confectionery business.
Regardless, this seems to affirm what most economists says about the economy slowing recovering. If companies is willing to shell out billions for businesses, it meant the belief is strong that there is money to be make...