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Kraft Foods (KRFT) Shareholders Approve Heinz Merger

Kraft Foods (NASDAQ:KRFT) and Heinz have officially announced their merger.

Kraft foodsThe two food companies tied the knot following a 14-minute meeting with about two dozen shareholders. The vast majority of shareholders voted for a merger between Kraft Foods and Heinz.

The merger will be finalized Thursday afternoon. Kraft Chairman and CEO John Cahill says he finds the move to be an “an incredible privilege” and he will remain as vice chairman of Kraft Heinz.

More than 98% of votes were in favor of the merger, accounting for over 69% of all outstanding Kraft shares.

KRFT stock is up 3.7% Wednesday.

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