Cadbury jobs to go as Kraft decides to shut factory
The US food giant Kraft has broken its pledge to keep the Cadbury factory in Keynsham open, just weeks after it announced its takeover of the confectioner.
The US food giant Kraft has broken its pledge to keep the Cadbury factory in Keynsham open, just weeks after it announced its takeover of the confectioner.
Gordon Brown has warned US food giant Kraft not to cut British jobs, following its takeover of Cadbury this morning.
US food giant Kraft has stepped up its bid for Cadbury today with a revised offer for the confectioner, as a major competitor ruled itself out of the race.
Shares in Cadbury have edged over the 800 pence mark today after it was reported that US firm Kraft was expected to make a new bid for the confectioner in the next two weeks.
Cadbury has denied it is in talks with Hershey to pave the way for the US-based food giant to make a takeover bid for the confectioner.
Interest from rival food companies in launching a rival bid for Cadbury has helped drive up the share price of the confectioner.
Imperial Tobacco’s new chief executive Alison Cooper put a focus on boosting sales after the world’s fourth-largest cigarette group beat forecasts with an 18% rise in annual earnings.
Cadbury has rejected a hostile £9.8billion bid for the company from US food giant Kraft, branding the offer as “derisory”. The widely expected bid followed a £10.2bn bid in September, which the head of Kraft Foods Irene Rosenfeld said would save the Somerdale plant near Bristol.
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