Kraft Foods may raise its bid offer for Cadbury Plc

Kraft Foods Inc, may raise its offer for British chocolatier Cadbury Plc or offer more cash in its bid if rival takeover offers emerge, a source familiar with the situation said on Sunday.

Kraft took a US$16.8 billion hostile offer for Cadbury to shareholders two weeks ago. Most of the remaining large players in the global confectionery industry — US-based Hershey Co, Italy’s Ferrero and Switzerland’s Nestle — are now weighing takeover bids themselves, media reports point out.

Kraft could keep its bid unchanged if no rival bidders emerged, however, a source told Reuters.