November 17, 2009

Do Stockholders Really Know Best?

Andrew Ross Sorkin, New York Times

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When news of Kraft’s hostile bid for Cadbury broke in England a couple of months back, it caused intense debate, including whether an American company should, by all rights, really be the new home of a well-known British brand that dates back to 1824.

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Felicity Loudon, the granddaughter of the former Cadbury Brothers managing director Egbert Cadbury, was quoted in The Sunday Telegraph saying that she was “particularly saddened by the possibility of one of the last remaining British icons disappearing into an American plastic cheese company.”

After giving the back of her hand to Kraft, she made a plea to her fellow countrymen: “I cannot believe that something can’t be done for totally patriotic...

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TAGGED: Cadbury, Kraft, Andrew Ross Sorkin

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