US food giant Kraft is set to raise its £10bn (€11.3bn) hostile takeover bid for Dairy Milk maker Cadbury in the next two weeks, it was reported today.

US chocolate giant Hershey has lined up more than £4bn (€4.4bn) in financing to launch a rival bid for Dairy Milk maker Cadbury, it was reported today.

Cadbury shares hit a fresh two-year high today on hopes of a takeover tussle as reports suggested Swiss food group Nestle is considering entering the fray.

Dairy Milk maker Cadbury is set to face a hostile takeover bid from US food giant Kraft today.