Kraft Foods said yesterday (15 December) that it had received clearance from US competition authorities to proceed with its proposed acquisition of UK confectioner Cadbury.

In a statement to the London Stock Exchange, Kraft revealed: “The US competition condition to the offer is now satisfied.” According to a spokesperson for the company, Kraft now only requires regulatory clearance in the EU. Last week, the European Commission has exteded the deadfline for reviewing the proposals until 6 January. However, Kraft insisted that it does not anticipate any serious antitrust concerns to arise in Europe.