The long story  between Kraft and Cadbury has ended with a victory of Kraft. The shareholders of Cadbury have approved the acquision offer made by Kraft with a 70% majority. Todd Stitzer is stepping down as chief executive of Cadbury in the wake of shaqreholders' vote  to accept Kraft Foods’ takeover bid. Joining him on the way out will be chairman Roger Carr and chief financial officer Andrew Bonfield. Their departure dates have yet to be set.While Stitzer and Carr were certain to leave following the deal – for which the outgoing CEO will trouser several million pounds – there was speculation Bonfield might stay to ease the company’s transition to US ownership.

Kraft recently made one of the largest bond sales.Kraft's $9.5 billion debt offering was the sixth-largest U.S. corporate bond sale on record, according to Thomson Reuters data. Proceeds will help finance Kraft's $18.5 billion acquisition of Cadbury.

Source: flex-news-food.com, the grocer.co.uk