Kraft Spinoff to Join S&P 500
Investors in Kraft Foods Inc. (NAS: KFT) will see some big changes next week. The spinoff of its North American grocery business, Kraft Foods Group (NAS: KRFTV) , will join the S&P 500 Tuesday. Meanwhile, Kraft Food Inc. will officially change its name to Mondelez International and be re-tickered under "MDLZ." It will remain in the S&P 500.
Post-spinoff, current Kraft Foods Inc. shareholders will own 1 share of MDLZ and 0.33 shares of KRFTV for each KFT share they now own. Kraft Foods Group replaces coal producer Alpha Natural Resources on the S&P 500 list. Alpha is moving to the S&P MidCap 400.
The article Kraft Spinoff to Join S&P 500 originally appeared on Fool.com.Fool contributor Justin Loiseau has no material interest in any companies mentioned in this article, but he does enjoy eating Oreos. You can follow Justin on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool has adisclosure policy.
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