US food giant Kraft is one step closer to its takeover of UK confectionary firm Cadbury after the majority of shareholders accepted its offer.
Investors had until yesterday to dispute Kraft’s £11.4 billion bid but around 71 per cent voted in favour of the acquisition.
The takeover positions Kraft as one of the largest food manufacturers in the world.
However, concerns have already been raised over the security of UK jobs and some employees fear that the Cadbury brand will lose its traditions and brand identity.
Yesterday many employees staged a protest on Westminster where they called for a ‘Cadbury law’ to prevent future iconic British brands from being sold to overseas investors.
The dark chocolate Bournville, named so after the quaint model village outside of Birmingham, has already relocated to France where it is now produced.
Kraft boss Irene Rosenfield met with UK business secretary Peter Mandelson to discuss its "commitment" to the British workforce.
Unions have already dismissed the takeover as a "sad day for Britain" as fewer and fewer homemade products are passing off our conveyor belts, losing out to international markets.