UK Reps Bash Kraft For Cadbury Buy Maneuvers

Law360, New York (April 6, 2010, 2:33 PM EDT) -- Lawmakers in the United Kingdom on Tuesday criticized Kraft Foods Inc.'s conduct during its $19 billion takeover of confectioner Cadbury PLC, saying it raised questions about how acquisitions in Britain are conducted.

Kraft's actions during the takeover, including a decision to shutter a factory it had earlier pledged to keep open and its CEO's refusal to appear at a hearing, came under fire in a report released by the U.K. Parliament's Business, Innovation & Skills committee.

The committee also criticized the acquisition as being motivated by...
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