"Great Respect for Cadbury Brand" Irene Rosenfeld, CEO Kraft Foods - - Kraft Tookover Cadbury at 8.40 Pound Per Share

The US food giant, Kraft has announced a takeover deal of Cadbury at 8.40 pound per share. Irene Rosenfeld, the CEO of Kraft Foods said that they have great respect for Cadbury brand, its heritage and culture.

Cadbury, which is the household name and a favorite chocolate brand around the world, is going through major changes. The UK based company is not very happy with the deal. The company currently employs 45,000 people in 60 countries and another 5600 people in the manufacturing units. The workers are worried that along with their jobs, the 186 year old heritage of chocolate making will we lost with the take over. Felicity Loudon, great granddaughter of the founder of the chocolate brand, John Cadbury has expressed her concern and distress for the workers.

After months of hostile negotiation, Kraft Food has agreed with the deal of 8.40 pound per share and 10 p for share dividend valuing Cadbury at approximately 12 billion pound. The shareholders of Cadbury have time till February 2, 2010 to consider the new bid of Kraft Food. The campaign against the bid was quite a fight. Workers fear the shut down of manufacturing unit in UK, Ireland and Bournville factory.