The parent company of my favorite organic, fair trade chocolate Green & Black is involved in a hostile takeover by Kraft. Workers at Cadbury have united in a Keep Cadbury Independent Campaign. Food Biz Daily explains:
Cadbury workers are to launch a bid to keep the UK confectioner independent and fend off a hostile bid by Kraft…
Unite is also contacting all Cadbury shareholders to urge them to reject Kraft’s bid.
The union said it will highlight what it claims to be “Kraft’s plan to pay for the company through massive borrowing, Kraft’s poor record in takeovers and falling share value and the union’s concerns that Kraft will move all investment decisions out of the UK and into the Kraft boardroom overseas”.
I certainly don’t want Kraft in charge of making my favorite chocolate! I hope the Cadbury workers are successful in blocking this hostile takeover.