UK lawmakers criticise Kraft's Cadbury deal
LONDON (AP) — British lawmakers say they still have "significant concerns" about the takeover of chocolate maker Cadbury by Kraft Inc. more than a year after the controversial deal.
The Business, Innovation and Skills Select Committee also strongly criticized Kraft's chief executive Irene Rosenfeld in a report released on Monday for refusing to appear before parliamentary hearings into the takeover.
The report — titled "Is Kraft working for Cadbury?" — says Kraft's attitude "steered close to a contempt" of Britain's House of Commons. It adds that Kraft failed to accept criticism of its U-turn on promises to keep open a British factory.
Kraft's purchase of Cadbury for 11.5 billion pounds (around $18.6 billion) in February 2010 kicked off a national debate about foreign takeovers in Britain.