By Candice Krieger
January 19, 2010
Mazel Tov to Irene Rosenfeld. It looks as if her attempts to take over Cadbury will prove successful today. Rosenfeld, the chief executive of US rival Kraft, has spent the past five months battling for Cadbury, and faced much hostility in the process, but the psychology graduate refused to melt under the pressure. Cadbury has recommended a £12bn takeover Kraft Foods Cadbury despite fighting a public campaign to maintain its independence, attracting support from business secretary Lord Mandelson. The offer is expected to be for 840 pence per share, a decent increase on Kraft's initial offer of 761 pence. The takeover is unlikely to be viewed favourably on this side of the pond, highlighting the debate over the vulnerability of British industry – there is a long list of a list of British industrial names which have fallen to foreign takeovers in recent years – and many Cadbury shareholders will mourn the end of British ownership of another brand. And then there is the many Cadbury employees fearing for their jobs. But for Ms Rosenfeld, it is looking like a sweet tactical victory, who has attempted to staff about the takeover. She said: “We have great respect for Cadbury's brands, heritage and people. We believe they will thrive as part of Kraft Foods." Methinks she will have to say and do a bit more than that to win over the British public and limit any backlash. But of course, I wish her much mazal in doing so.