socialmedian: Cadbury's future hangs in balance with takeover bid from Kraft expected

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Cadbury's future hangs in balance with takeover bid from Kraft expected

Source: The Guardian

Nov 08, 2009

Summary

Vocal opposition to 'plastic cheese company' becoming owner of 195-year-old British institution

After 195 years as a successful and much-loved British company the future ownership of Cadbury hangs in the balance ahead of an expected formal takeover offer from US food company Kraft tomorrow.

The firm behind Dairy Milk, Jelly Babies and Bassett's Allsorts has for the past two months rejected Kraft's informal overtures, describing a proposed £10.2bn price tag for the British confectioner as "unappealing". Under stockmarket rules Kraft has until 5pm tomorrow to file a formal offer.

The planned takeover has provoked outrage in some quarters, with supporters of an independent Cadbury pointing to its proud heritage as a Quaker-founded enterprise committed to advancing employment standards.

Felicity Loudon, a descendant of George Cadbury, said: "My great-grandfather would be turning in his grave… All this history is totally lost on the Americans." She described Kraft as a "plastic cheese company".

Cadbury's commitment earlier this year to use only Fairtrade cocoa and suga

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