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Is Kraft Foods set to increase Cadbury bid?

Irene Rosenfeld, the chairwoman and chief executive of Kraft Foods, is rumoured to be on the verge of sanctioning an increase in the company's offer for the UK chocolate giant Cadbury. Speculation in the market is rife that Kraft Foods is set to increase its offer to around eight pounds a share with Cadbury directors adamant they will not recommend an offer less than this figure. However, the situation could change on a daily basis with other bidders rumoured to be waiting on the sidelines ahead of an increased offer by Kraft Foods.

While over the last few days this particular saga has gone fairly quiet the New Year will see a rush of announcements and speculation regarding the future of Cadbury. While Kraft Foods would appear willing to "sweeten" its offer for Cadbury the company has also confirmed it will not put its credit risk rating by taking on too much debt. How far the company is willing to go to grab control of Cadbury remains to be seen but this is a battle which is set to roll on for some time to come.

When the markets open again on 5 January it will be interesting to see if there are any immediate announcements and how the Cadbury share price responds to speculation in the press.

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