Kraft's Cadbury Takeover Attracts Criticism
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".

Latest News

Samsung launches Galaxy S4 compatible TecTile 2 tags
Soaring gas prices surprise market watchers
Recon comes up with Google Glass-like product
Netflix and YouTube consume nearly half of US internet capacity: study
Google commemorates Atari Breakout’s 37th anniversary
New York AG wants leading mobile makers to help tackle problem of device theft
Amazon agrees to acquire Samsung's Liquavista business
Google all set to launch centralized gaming hub for Android: suggests leaked APK
Snapchat app stores users’ images
Verizon: Nokia Lumia 928 to be available from May 16
Deluged by police requests for iPhone decryption, Apple has created a “waiting l
Twitter acquires Ubalo to accelerate its back-end