Kraft Foods have agreed to buy Cadbury for around 13.5 billion euros creating the world’s largest confectioner.
The deal brings an end to almost 150-years of independence for the chocolate maker of the much-loved Dairy Milk.
Roger Carr is Cadbury Chairman:
“The approach from Kraft, which was hostile, has clearly put us in play and it’s important in those circumstances that we do the job on behalf of our shareholders in ensuring that if it’s sold, it’s not sold cheaply and our defence is strong and the Kraft offer is weak.”
Cadbury unions are opposed to the move fearing UK jobs could melt away at sites in Bournville, Birmingham, Somerdale and Bristol.
British Prime Minister Gordon Brown has called on Kraft to retain investment levels in the UK and not to axe British jobs.