NPR logo

Kraft Looks Set To Swallow Up Cadbury

  • Download
  • <iframe src="https://www.npr.org/player/embed/122716575/122716542" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Kraft Looks Set To Swallow Up Cadbury

Business

Kraft Looks Set To Swallow Up Cadbury

Kraft Looks Set To Swallow Up Cadbury

  • Download
  • <iframe src="https://www.npr.org/player/embed/122716575/122716542" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Board members of the British chocolate maker Cadbury have accepted the offer by American food giant Kraft. If shareholders approve the deal, about $19 billion, it would instantly make Kraft Foods Inc. the world's biggest candy company.

STEVE INSKEEP, host:

NPR's business news starts with the chocolate merger of the century.

(Soundbite of music)

INSKEEP: The American food giant Kraft looks at - to swallow up the British chocolate maker Cadbury. Cadbury board members have accepted Kraft's latest offer of about $19 billion. This decision comes after months of resistance, in part over the price. Cadbury workers also feared for their jobs.

A Cadbury family member opposed the loss of the British company's independence to what she said is an American company she associates with plastic cheese - as if there was something wrong with that. This deal, if it goes through, would instantly make Kraft the world's biggest candy company.

RENEE MONTAGNE, host:

In Japan, nearly 16,000 people are about to lose their jobs in one of the country's biggest-ever corporate failures. Japan Airlines has been Asia's largest carrier, in terms of revenues. After three government bailouts over the last decade, the carrier today filed for bankruptcy. Its planes will stay in the air as the massively in-debt airline goes through a state-backed restructuring plan that involves cutting routes, reducing pensions, and losing a third of its workforce.

Copyright © 2010 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.