Thu 14 Jan 2010
Henley Business School Dean Questions Cadbury Takeover Bid
Posted by EPR Network under Business, Education, Featured, Financial, Food & Beverage, Society
Released on: January 14, 2010, 5:33 am
Author: Henley Business School
Industry: Education
Following speculation over Kraft’s proposed takeover bid of Cadbury and subsequent fears of major job losses, Professor Christopher Bones, Dean of Henley Business School, has also raised serious concerns regarding whether Kraft could be trusted to keep to its commitments in light of past failings. This warning comes after the pledge by Kraft that it will ensure the Cadbury’s Bath factory will stay open bearing in mind Kraft gave the same commitment to Terry’s of York in 1993 but then closed the factory 12 years later.
Professor Bones gave evidence to the select committee for Business, Innovation and Skills enquiring into company takeovers, mergers and acquisitions on Tuesday 12 January. His evidence, which drew heavily on the example of the current takeover bid of Cadbury by Kraft, received widespread coverage in the UK media. The Today Programme, Wake Up To Money, BBC West Midlands, BBC World News and News Channel and The Guardian all carried interviews with Professor Bones.
Professor Bones drew attention to the threat to the UK’s science base and leading-edge research in GM other food related areas. The government has identified food security as one of the core STEM subjects of critical importance to national security.
The Global Science Centre for Cadbury plc which researches food security is located at the University of Reading. The centre employs 130 skilled researchers and is an established centre of excellence in the UK attracting research investment and international students f r o m around the world. Kraft plans to transfer such activity to its US laboratories.
