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Kraft Foods shareholders voted for merger with Heinz

Staff writer |
Kraft Foods Group shareholders voted to approve the merger agreement providing for the creation of The Kraft Heinz Company.

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In a preliminary count of the voting results, more than 98 percent of votes cast at the special meeting voted in favor of the transaction, representing more than 69 percent of all outstanding Kraft shares, clearing the way for the merger to close after market close tomorrow, July 2, 2015, subject to certain customary closing conditions.

The transaction will create the third-largest food and beverage company in North America, and the fifth-largest food and beverage company in the world.

The merger was announced on March 25, 2015 and received regulatory approvals in the U.S. and Canada.

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