Kraft Buys Cadbury
Cadbury would end its being an independent company after almost 200 years. It was established in 1824 by John Cadbury.
The British population and government strongly disapprove foreign takeovers of British companies.
In history, Kraft has bought another British chocolate manufacturer in 1993. Terry’s plant in York was closed in 1995. A similar fear is now creeping among the 9,000 workers of Cadbury in Britain. Kraft is rumored to cut 10,000 employees from the 45,000 worldwide roster.
Cadbury, makers of Dairy Milk and Wispa, has rejected an initial offer of 10.5 billion pounds from Kraft, makers of Milka and Toblerone. Kraft is the world’s second largest snack group after Nestle.
Hershey also attempted to offer a deal with Cadbury at 17.9 billion dollars, the Wall Street Journal reported.