Lord Mandelson declares ‘very close interest’ in Cadbury take-over bid
Business Secretary Lord Mandelson appeared to be in combative mood when he met with MPs from the Birmingham region and trade union leaders yesterday (16 December) to discuss the issues surrounding take-over bids from US firms Hershey and Kraft Foods for the iconic British chocolate maker Cadbury.
It was reported by his officials that Lord Mandelson made it clear that he was acutely aware of the strength of feelings generated by the take-over bid. He said Cadburys was a major UK company and it was important that any acquirer of Cadbury's respect the company's heritage and workforce.
While stressing that he had no statutory power to intervene in this case, Lord Mandelson added that he would "continue to take a very close interest in whether shareholders played a full part in corporate governance, and whether they took a long term view of their responsibilities as shareholders".