UK's Mandelson To Meet Kraft CEO Rosenfeld Tuesday
February 02 2010 - 6:41AM
Dow Jones News
U.K. business minister Peter Mandelson is to meet with the chief
executive of Kraft Foods Inc (KFT) later Tuesday to discuss the
U.S. food giant's commitment to U.K. jobs and investment, following
its GBP11.9 billion purchase of Cadbury PLC (CBY).
Mandelson's Department for Business, Innovation and Skills said
the meeting with Irene Rosenfeld would take place Tuesday evening.
Kraft's offer for the U.K. confectioner is expected to become
unconditional Tuesday once it has secured acceptances from 50% of
Cadbury's shares.
The takeover has attracted much criticism in the U.K., with
trade unions warning of thousands of job losses as decisions over
the 200 year-old confectioner's future are taken out of the
U.K.
"We understand the strength of feeling for this company across
the U.K.," The government department said, "however the decision on
the Kraft bid is a matter for the Cadbury shareholders."
-By Michael Carolan, Dow Jones Newswires; 44-20-7842-9278;
michael.carolan@dowjones.com
Cadbury Schweppes (LSE:CBRY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cadbury Schweppes (LSE:CBRY)
Historical Stock Chart
From Apr 2023 to Apr 2024