Kraft gets over 90 percent of Cadbury

Posted by admin | Posted in Business News | Posted on 16-02-2010

NEW YORK (Reuters) – Kraft Foods Inc (KFT.N) said on Monday it had just over 90 percent acceptances from Cadbury Plc (CBRY.L) shareholders in its takeover of the British confectioner.

Deals

Kraft, after a prolonged battle for the company, said it would start a compulsory purchase of the remaining shares to close out the deal. The $18.4 billion takeover will create the world’s biggest confectionery group, following a near five-month takeover fight.

(Reporting by Paul Thomasch, editing by Gerald E. McCormick)

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