KRAFT BID FOR CADBURY

Early day motion 476, tabled 15 December 2009 by Lynne Jones (Labour). Signed by 49 members.

That this House celebrates the fact that Cadbury has shown both its capacity and potential as a standalone company to deliver sustainable growth through the production of high-quality products; notes with concern the hostile bid for Cadbury by the Kraft corporation; further notes with alarm Kraft's record of closing 22 plants and cutting 60,000 jobs in the past decade in a desperate bid to cut costs, and the high level of debt which Kraft already carries; is concerned about the ease with which a hostile takeover bid can be made for a UK company; fears that the takeover of a profitable and well-loved company will lead to further job losses on a considerable scale; believes that decisions concerning investment in UK and Ireland plants must be made in these isles and not in some far-off boardroom; and congratulates Unite the Union on its campaign to maintain Cadbury as an independent and successful company.

Signatures by party: Labour 43, Liberal Democrat 3, Conservative 1, DUP 1, Independent 1.