Cadbury shareholders approve Kraft takeover

Kraft needed just 50 percent plus one share to take control of Cadbury. Chief Executive Irene Rosenfeld expects to complete the deal in the coming weeks as the remaining Cadbury shareholders come forward to accept the cash and shares bid.

"We are confident that, given the strong support that we got in the tender, in the coming days and weeks we will be able to finish the process," Rosenfeld said in a telephone interview from London on Tuesday as she munched on a Cadbury's Dairy Milk chocolate bar.

The majority approval caps a five-month battle for Cadbury that tested Rosenfeld's leadership and drew harsh words from Cadbury's top brass in the confectioner's defence.

Rosenfeld has also begun the next steps towards integrating the world's No. 2 confectioner into the second-largest global food group. She met on Tuesday with UK Business Secretary Peter Mandelson, who is seeking to protect around 4,500 British jobs at Cadbury.

Kraft promised $675 million (422 million pounds) annual cost savings from the deal, which will mean cuts in Cadbury's global workforce of more than 45,000, analysts said.

But while not making any promises about specific jobs, Rosenfeld stressed in the interview with Reuters that the rationale behind the deal was to increase sales of Cadbury and Kraft products.

"The discussion of the UK job situation has been very exaggerated," Rosenfeld said. "We actually expect this will be a net positive for the UK."

Cadbury's leadership was also poised to exit the company, with Chairman Roger Carr and the board due to leave after certifying Cadbury's 2009 results

Cadbury CEO Todd Stitzer and Chief Financial Officer Andrew Bonfield will assist Kraft in integrating Cadbury into the Northfield, Illinois-based food maker but will step out of the direct management chain of command, Rosenfeld said.