Cadbury's takeover statement

By on 20/01/2010 in News, Video News

Cllr Neville Summerfield, Cabinet Member for Regeneration at Birmingham City Council, has hit out at foreign takeover plans for Cadbury's and urged the company’s shareholders to reject the deal agreed between the management of the Bournville company and US firm Kraft.

Cllr Summerfield said: “Following the recent 'lift, shift and forget’, by foreign investors of Birmingham based LDV, this proposed takeover would be a terrible blow for the city and could lead to the latest in a long line of closures of iconic British companies brought about primarily to benefit overseas based self interest..

“In considering this offer I sincerely hope the shareholders think about  the longer term financial benefits gained by staying independent rather than choosing to take the short term 'quick buck' from 'struggling' KRAFT.

“There is much at stake in the next couple of weeks not just for Birmingham, but also for an iconic symbol of British industry and through it the industrial future of the entire country.

“I'd therefore urge the shareholders to think very carefully before rushing to a decision.”

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  1. John W. says:

    Disgusting – let hope the shareholders vote against this takeover.
    Flippin Yanks – they get on my nerves, thinking they can own everything that belongs to everyone else

  2. PAUL DAVIES says:

    IM ASHAMED AND DISGUSTED TO THINK THAT YET ANOTHER BRITISH COMPANY IS GOING THE SAME WAY AS SO MANY GREAT BRITISH COMPANIES.WE WERE AHEAD OF THE INDUSTRIAL REVOLUTIONS SO MANY YEARS AGO AND IS NOW DISAPEARING DUE TO SHAREHOLDERS GREED WANTING TO MAKE PROFIT.MY LATE GRANDFATHER WORKED AT BOURNVILLE FOR MORE THAN THIRTY HAPPY YEARS AND GAVE HIS ALL ALONG WITH MANY OTHER HARDWORKING PEOPLE,HE WILL BE TURNING IN HIS GRAVE IF HE COULD SEE WHAT WAS HAPPENING NOW.THE CADBURY FAMILY BUILT IT FROM NOTHING INTO A WELL KNOWN COMPANY AROUND THE WORLD.IT WAS A COMPANY THAT THE MIDLANDS COULD BE PROUD OFF BUT NOW WE ARE LOSING TO THE AMERICANS.ANOTHER BODY BLOW FOR THE MIDLAND PEOPLE AFTER THE SAD DEMISE OF MG ROVER AND HP.I FEAR FOR THE FUTURE GENERATIONS WHEN COMES TO LOOKING FOR WORK.

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