Whether B&J should continue to independently pursue its social agenda or accept one of the attractive takeover offers and shift toward greater profit orientation.
Now in answering this question one has to realize the agency conflict in this decision between shareholders and management. The analysis of different offers revealed that it is essentially a choice between Dreyers’ and Unilever. This implies that the company cannot and should not bypass the takeover. The need of the hour is to divert the company onto a profitable track and revive its financial health.
Unilevers’ offer seems to be better than the rest if only some clarifications for retaining at least some of the existing management philosophies are made. The social aspect is very integral and important for the B&J brand and is therefore economically wrong to rip apart this essence of the company. Some thrust and pushing will be required in this direction. However the need of the hour is to accept change, accept the most attractive bid and relaunch the company on profitable tracks.