Cadbury shareholders back £11.4bn takeover offer

Kraft has closed the deal on its drawn-out takeover of Cadbury after shareholders in the UK confectionary giant gave their backing to the £11.4bn offer.

So far, investors holding 71.7% of Cadbury's shares backed the takeover, ending almost two centuries of independence for the Bournville-based chocolate manufacturer. When Kraft gains 75% of Cadbury it will be able to take the company off the stock market.

The approval of Cadbury's shareholders - the final hurdle in Kraft's hostile bid - came after Cadbury workers voiced their concerns about job losses in protests outside Parliament.

Last month the Unite union warned Cadbury shareholders Kraft could slash jobs to reduce its levels of debt.