Kraft deal for Cadbury: Gordon Brown warns US firm over jobs
Gordon Brown has warned Kraft not to cut jobs at Cadbury after the US food
giant’s £11.5 billion bid for the British confectioner was finally accepted.
Published: 10:17AM GMT 19 Jan 2010
The deal ends more than more than 150 years of independence for the maker of
Dairy Milk, which will now be subsumed within the world’s second-biggest
Kraft Foods, which also makes Toblerone, will take over Cadbury with an offer
worth 840 pence a share.
Cadbury’s board is now unanimously recommending its shareholders back the bid,
after dismissing the initial approach from Kraft as “derisory”.
Roger Carr, chairman of Cadbury, said: “We believe the offer represents
good value for Cadbury shareholders and are pleased with the commitment that
Kraft Foods has made to our heritage, values and people …