Cadbury brand will be removed from Stock Exchange listings

The Cadbury brand is to be removed from the London Stock Exchange listings on 8 March, following the completion of its takeover earlier this week.

Kraft Foods says it will remove all Cadbury shares from the London Stock Exchange after 8 March, now that 75% of shareholders have agreed to the takeover.

Cadbury will also apply to de-list its American Depositary Shares from the New York Stock Exchange. When the level of acceptances from Cadbury shareholders goes above 90%, Kraft can force the remaining shareholders to sell.

On Tuesday, Cadbury accepted an £11.5bn ($18.9bn) takeover offer from Kraft.

The following day, the three men at the top of Cadbury announced their resignations.
Chairman Roger Carr, chief executive Todd Stitzer and chief financial officer Andrew Bonfield are all to step down. Reports suggest that Cadbury’s former European president Tamara Minick-Scokalo is to join Kraft Foods Europe as head of European confectionery.

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