Kraft Foods Takes Over Cadbury
by Milota Sidorova
The international corporation Kraft Foods is going to definitely take control over British confectioner Cadbury. Cadbury, founded in 1824 has become “an integral part of the British economy”. The company survived four economy crisis, both World wars, but it is not going to survive the corporate policy. The deal has been proclaimed after the Italian confectioner Ferrero announced it was dropping the acquisition. Kraft Foods made an initial offer about £10.2 billion to which Cadbury instructed Kraft Foods to not to try to “make a quick buck” over the company. The proposal was set to £11.5 billion and finally agreed. Kraft Foods will buy Cadbu! ry for £8.40 per share.The decision created strong response among British organizations and traders. The major cause is Cadbury has been influencing the country's economy for more than hundred years. It is now a part of FTSE 100 Index. In 2008 it had more than 71, 000 employees. The opposition fears that with the new owner about 30,000 jobs may be put in the risk. Cadbury is known not only by acquisition of Schweppes that split in 2007 and divided the company into two separate business – the chocolate craft and the drinking division. The next year drinks became Dr. Pepper Snapple Group Inc. Cadbury was also known for innovative methods and social program for its workers.Cadbury built a worker town, full of green, cultural possibilities that was stated as one of the first Garden cities in the world. For British citizen, it is more than a company. It represents the tradition, the history, a value, going to be sold for £11.5 billion.
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| by Milota Sidorova for SigEx Ventures (http://sigexventures.com) |
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posted by Blog TechSource @ 2:48 AM
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