For Kraft executives, a reminder from British history

03/16/2010 | Financial Times (tiered subscription model)

Kraft's ham-fisted handling of its takeover of British chocolatier Cadbury recalls another botched American takeover of a British business institution, writes Stefan Stern. Back in 1920, the iconic British pharmacy group Boots was sold to an American drug company -- only to be swiftly sold back to British investors after skeptical consumers began giving the chain a wide berth. "Brands, and company identities, are valuable but also delicate things," Stern writes.

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