Cadbury plc

Look for Kraft Heinz, Mondelez to take part in next round of takeover battles

The global companies that make our food, snacks, beauty products and other consumer staples are ripe for more corporate takeover tussles. Expect locally based Kraft Heinz and Mondelez International to be part of the fray.

Right now, Wall Street's focus is on shareholder activist Nelson Peltz's proxy battle to win a seat on the board of Procter & Gamble, the global marketer of Tide, Charmin, Pampers, Gillette razors and other household names.

Peltz is pushing P&G to cut costs, hike revenues and, of course, boost its stock price. Cincinnati-based P&G counters it's poised to achieve those goals and doesn't need Peltz's help.

Kraft Heinz and Mondelez, where Peltz...