Kraft may launch hostile bid for Cadbury

Confectionery giant Cadbury remained silent today amid reports that US-based food group Kraft was set to launch a hostile takeover bid for the firm.

Cadbury refused to comment to comment on a report in the Financial Times that Kraft was this weekend finalising plans to make a firm offer to Cadbury shareholders on Monday, when a “put-up or shut-up” deadline enforced by the City takeover authority expires.