We have been pretty outspoken in our dislike of Kraft’s (KFT) name choice of Mondelez International for its global snacks spinoff. Unfortunately, I wasn’t able to voice my displeasure at today’s shareholder meeting because despite being an avid consumer of Kraft products, I don’t actually own any shares. It wouldn’t have mattered though as over 90% of voting shareholders approved of the name choice so Mondelez is here to stay. Baffling, but not a surprising outcome.
The new company will trade under the ticker MDLZ post-spinoff and will house some of Kraft’s most renowned brands, including Oreo, Cadbury and Nabisco. For additional information on the transaction see our earlier posts on the subject here.
Disclosure: Author holds no shares of any stock mentioned.