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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.