Kraft's Cadbury Takeover Attracts Criticism

The raging great-great-granddaughter of Cadbury's founder yesterday said "he would spin in his grave" if the iconic firm would get take over up by US cheese giant Kraft.

Felicity Loudon begged shareholders to reject the 850p a share acquisition offer and urged them to keep the 186-year-old company British in their own hands in memory of her ancestor John Cadbury.

She said, "We can't sell out to a plastic cheese company. It's a horror story. It's not just because I am a Cadbury that I feel so English about it. I just feel it's really worth fighting for". In addition, she claims that a company like Kraft is incompetent to run the company.

However, Cadbury bosses' opposition towards the acquisition witnessed a turn yesterday as Kraft Foods, known for Dairylea and Philadelphia cheese, increased its offer to £8.40 a share to lure them.

In addition, investors will also get a 10p a share dividend, taking the bill to £11.9billion.

It is claimed that Kraft is borrowing £7billion to finance the deal, triggering fears that it will try to sack employees to recover some of the outlay.

Gordon Brown has extended its surety to fight for Cadbury's British workers. He said, "We are determined that, at a time when people are worried about their jobs, that jobs in Cadbury can be secure".