The takeover of Cadbury in 2010 by Kraft Foods sparked a review of how takeovers are conducted in the UK. But as the largest takeover bid in UK history of AstraZeneca by US-giant Pfizer looms on the horizon, have any lessons really been learned?
Kraft first announced that it was considering making an offer for Cadbury in September 2009 and, on 19 January 2010, Cadbury recommended Kraft’s offer to its shareholders. In February, Kraft Foods completed its £11.5bn acquisition of Cadbury, the manufacturer of Dairy Milk and, despite promises to the contrary, the deal saw the closure of the historic Somerdale…
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