The takeover bid has created a huge outpouring of resentment against foreign takeovers of British companies, particularly in Cadbury’s Birmingham birthplace. In the past four years, more than £292 billion has been spent by foreign companies buying British rivals.
During the past decade, household names such as P&O, O2, Abbey, BAA, Jaguar Land Rover, the glass manufacturer Pilkington and the steelmaker Corus have all succumbed to foreign takeovers, along with a clutch of electricity and water companies. But few have aroused as strong feelings or emotions as the Cadbury bid.
Kraft owns confectionery brands such as Milka and Toblerone but suffers from a poor reputation among many in the food industry because it makes most of its money from processed cheese and meat. It originally tabled a £10.9 billion bid for Cadbury in September last year. The bid went hostile in November as Kraft made its proposals direct to Cadbury’s shareholders over the heads of its board.
This really takes the biscuit – Yanks now taking over the brand we’ve all grown up on. Cadbury’s has always synonymous with chocolat, and vice versa.
Or at least is was until the EU decided we couldn’t call it chocolat.
Why can’t these bloody foreigners leave us in peace?
Posted via web from Widespread
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