Kraft acquires full control of Cadbury

NEWSCAFEICULTURA – Kraft Foods said Tuesday it acquired control of Cadbury Plc after holders of more than 71% of Cadbury shares accepted Kraft’s bid.

Cadbury shareholders had until Tuesday to accept Kraft’s offer, valued at more than $19 billion in cash and stock.

The Kraft-Cadbury combination creates the world’s No. 1 chocolate maker and the No. 2 gum producer.

Kraft expects the Cadbury purchase to boost earnings by around 5 cents in 2011. Cost savings are pegged at $675 million by 2014.