US food giant Kraft is set to sweeten its hostile bid for Cadbury as it looks to melt the resolve of the Dairy Milk maker’s shareholders, it was reported yesterday.
Kraft, which has until tomorrow to raise its bid, is understood to be planning an announcement today about its current £10.5bn offer for its unwilling UK target.
Reports of an increased Kraft bid come amid expectations that another US firm, Hershey, is set to enter the fray with a counter-bid for Cadbury.
In a defiant response, Cadbury has slammed the Kraft bid as “derisory”.
