Kraft (KFT) plans to launch its £9.8B ($16.4B) hostile bid for Britain's Cadbury (CBY) Friday,...

|About: Cadbury plc (ADR) (CBY)|By:, SA News Editor

Kraft (KFT) plans to launch its £9.8B ($16.4B) hostile bid for Britain's Cadbury (CBY) Friday, one business day ahead of the Monday deadline, sources say. Under U.K. takeover rules, Kraft has until day 46, or the middle of January, to raise its bid, while Cadbury will have until day 14 to publish its defense. Hershey (HSY) is thought to be mulling a $17B bid for Cadbury - an offer the U.K. confectioner has indicated it would prefer.