Kraft Takes Over Cadburys Then Makes Job Losses
January 19th 2010 Kraft finally won with there last minuet bid.
Cadburys has a global work force of 45,000 with 9,000 being in Britain and now Kraft takes over Cadburys Unions are concered there could be at least 10,000 job losses worldwide.
1993 Kraft brought Terrys who make Terry Orange and Kenco coffee then closed its York factory in 1995.
The flag waving and calls for government to protect UK brands from foreign takeover may have been attracting headlines but with a large percentage of Cadbury shareholders from outside the UK, the emotive side of things was never likely to have taken root in this case.
So what does the deal mean for Kraft? - Firstly It gives it an iconic brand and a prestigious line in chocolate products. But it also provides access to other markets – for instance South America where it has previously had minimal presence.
One by one British factory are being taken over or closing and moving to re-open outside Britian
Cadbury shareholders have been offered 500p in cash and 0.1874 Kraft stock for each share they own. This values Cadbury at 840p per share, but shareholders will also receive a special 10p dividend.
Is anything British any more ??? foreigners already own Manchester United and Heathrow. The automotive industry will soon become part of english history as the plants shut or are taken over whilst making thousands out of work or closing tiny village shops.
If Kraft makes job losses then family run shops that have been in Bournville for years will also have to close, eventually making it a ghost town or a historical village to visit with nothing to see but the empty great Cadbury factory.