Wednesday, 23 March 2011

Kraft and Cadbury - one year on

Radio 4 have just run a programme one year on from Kraft's takeover of Cadbury.

It happened so quickly, apparently, because, by the time of the sale, only 28% of Cadbury shares were held in long term UK funds. 31% were in non-UK hedge funds.

It's interesting to read Elizabeth Fournier's piece in City A.M., about new proposals announced on Monday by the UK Takeover Panel, which oblige companies to work to stricter timetables and increase disclosure.

Apparently, under the new rules, Kraft would have been disciplined for failing to fulfil statements made during the bid, and the Somerbury factory and 400 jobs would have been saved.

It appears that Bournville is now becoming Kraft's global innovation centre/centre for chocolate! Let's hope that keeps the remaining 5,500 UK Cadbury/Kraft workers in employment.

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