Taxing Business

US Kraft to takeover UK Cadbury

Cadbury has approved a takeover bid by the Kraft, in a deal which a spokesperson from the US food giant claims will form a “global confectionery leader”.

Cadbury, based in Birmingham, United Kingdom, has been in talks over a possible takeover for a few months now and the board finally agreed to the Kraft offer. The board at Cadbury is recommending to the shareholders that they accept Kraft’s deal that gives 840 pence per share. This gives Cadbury a total value of £11.5 billion.

Despite the positive outlook in the takeover bid, unions showed concern as the deal made no mention of job security and even suggested cost cutting measures were likely to take place.

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