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MP speaks of Cadbury fears
MINISTERS say they are "acutely aware" of strong feelings over the prospect of Cadbury falling into foreign hands after a Yorkshire MP raised concerns over the takeover of flagship British companies.
Huddersfield MP Barry Sheerman complained that foreign takeovers can have a "considerable effect" on workforces and communities across the UK.
He spoke out as US firms Kraft's and Hershey jostle to take control of Cadbury, one of the most iconic British companies.
"In Yorkshire, we have had Walmart taking over Asda with disastrous results, and Nestl taking over Rowntree. Now, Cadbury is possibly going to be taken over by Kraft or Hershey," said Mr Sheerman.
The prospect of Cadbury becoming the latest great British name to fall into foreign hands has alarmed many MPs, who accuse Kraft of shedding 60,000 jobs in the past decade in a "desperate bid to cut costs".
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Saturday 26 May 2012
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