Academic taking E is finished (4)
I believe the answer is:
done
'is finished' is the definition.
(similar in meaning)
'academic taking e' is the wordplay.
'academic' becomes 'don' (type of academic - especially at Oxbridge).
'taking' says to put letters next to each other.
'don'+'e'='DONE'
(Other definitions for done that I've seen before include "Robbed" , "Performed" , "Swindled" , "Managed" , "See 23" .)