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MPs to issue critical report on Kraft Foods

UK MPs will this week issue a critical report on the takeover of Cadbury by US giant Kraft Foods which is certain to light the blue touch paper between UK and US company relationships. The report will highlight a number of alleged broken promises by the US giant although in reality the company paid over £11 billion for Cadbury and was obviously going to look at ways to reduce the cost of running the company and extracting more profitability.

The timing of this report is also very controversial coming in the same week as Gordon Brown is expected to announce the 6 May as the date for the next election. There is no doubt that the UK government has been highly critical of Kraft Foods in the past and made the company something of a scapegoat in many regards. Lord Mandelson has been amongst the more high profile critics of the company and the unions are now demanding further talks with US management.

The truth of the matter is that after acquiring the operation Kraft Foods is well within its legal rights to make changes where applicable and seek to extract more value for money. Nobody twisted the arms of Cadbury shareholders into accepting the offer and this is ultimately a free-market deal which has ultimately changed in complexion.

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