Lamport Bassitt Solicitors - Legal News - Union calls for 'Cadbury law' to prevent hostile takeovers


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Union calls for 'Cadbury law' to prevent hostile takeovers A union in the UK has called for new rules which would prevent hostile takeovers of firms occurring. Unite has said a 'Cadbury law' should be implemented, which would stop British companies being taken over by overseas multinationals against their will. The organisation - which describes itself as the country's largest union and has around two million members - made its plea following the release of a report on the Cadbury situation by an all-party business select committee. In what is described by Unite as a "damning indictment", the report stated: "Kraft acted both irresponsibly and unwisely in making its original statement that it believed that it could keep the Somerdale factory open." Jennie Formby from Unite stated that the committee is right to support calls for stronger guarantees and for the government to police promises made by the US-based company. She added that workers at Cadbury deserve security for the future. Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News