US food giant Kraft issued a public apology regarding the U-turn on its pledge to keep operational the Cadbury plant near Bristol, and it also promised to ensure no job losses over the next two years as it faced a committee of UK politicians yesterday.
US based market analyst firm Bernstein Research claims that there is more value for Cadbury shareholders in the UK confectionery giant remaining a standalone company should a higher bid from Kraft does not materialise.
British and Irish workers at Cadbury have announced a campaign to resist Kraft’s hostile ₤9.8bn ($16.3bn) takeover bid by appealing to shareholders and politicians to block the deal.