KRAFT BID FOR CADBURY

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.