News - Midlands
Kraft moves to delist Cadbury
Kraft Foods announced this morning that it had 75.41 per cent acceptances from Cadbury shareholders by 5pm last night and that it will now move to delist Cadbury "no earlier than 8 March". Kraft said in a statement that assuming it gets 90 per cent acceptances from Cadbury shareholders it intends to move toward the compulsorily purchase of any outstanding shares. It added that its final offer remains open until further notice and urged all Cadbury shareholders to accept the takeover offer. It is also said that, after Cadbury shares are delisted, it will be re-registered as a private company.