Kraft Foods is poised to launch a hostile bid for Cadbury valuing the British confectionery business at around £11bn. The takeover panel is preparing this week to set the American group a deadline by which time it must put a firm offer on the table – or walk away for at least six months.

City sources say Kraft could bid 800p a share, which could rise to 850p as the bid battle reaches its climax over the 60-day limit set by the panel for takeovers.

via Kraft ready to offer £11bn for Cadbury | Business | The Observer.