In just a matter of months the negotiations are done with. Even the recent interference by Lord Mandelson who met with institutional shareholders to encourage them to keep the firm independent couldn’t scupper the deal.

Kraft will pay 500 pence in cash for each Cadbury share as well as 0.1874 new Kraft shares, up from its original offer of 300 pence in cash and 0.2589 new Kraft shares.

Kraft’s decision to raise the cash part of the bid and lower the stock element should appease Kraft’s largest shareholder Warren Buffett, who warned the company earlier this month against issuing too much new Kraft stock to pay for a deal.

With British industry in the doldrums, the swallowing of such an iconic British brand into a large American conglomerate will be viewed as a blow by those of a nostalgic persuasion. As for the British jobs likely to be at stake…