Kraft has until the end of the working day today (17:00 GMT) to make an offer to Cadbury or walk away for six months.
Cadbury shares rose 0.5 per cent to 761.5p in early trading, off the back of the imminent deadline. The UK confectioner rejected an approach from Kraft in September, worth £10.2 billion. Last week Kraft announced disappointing third-quarter results.
Kraft's largest shareholder is billionaire Warren Buffett, who has warned the US-based company against overpaying for Cadbury.
Cadbury own brands Dairy Milk, Green & Black's and Bassett's, among others, while Kraft manages Kenco, Oreo and Toblerone.
Shares in Cadbury have risen about 30 per cent since late August, and are now 758p a share.
Cadbury shares rose 0.5 per cent to 761.5p in early trading, off the back of the imminent deadline. The UK confectioner rejected an approach from Kraft in September, worth £10.2 billion. Last week Kraft announced disappointing third-quarter results.
Kraft's largest shareholder is billionaire Warren Buffett, who has warned the US-based company against overpaying for Cadbury.
Cadbury own brands Dairy Milk, Green & Black's and Bassett's, among others, while Kraft manages Kenco, Oreo and Toblerone.
Shares in Cadbury have risen about 30 per cent since late August, and are now 758p a share.
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