Lex: UK takeovers

When Kraft’s chief executive Irene Rosenfeld made a takeover approach to Cadbury last August, she surely never imagined the result would become a UK election issue. But Kraft’s subsequent closure of a Cadbury factory it had earlier suggested it could keep open, rather than the controversial way the acquisition itself was transacted, has thrust the deal onto the campaign agenda. Politicians should not, however, try to rewrite UK takeover rules as a result. Neil Buckley analyses UK election rhetoric concerning the takeover of British companies.