Kraft is unlikely to be forced into a bidding war for Cadbury, according to press reports, with potential suitors having failed to signal an interest in swooping for the iconic UK confectioner.

Swiss foods giant Nestle has all but ruled itself out of the running, the Daily Mail reports, while US-based Hershey is also thought to have been unable to raise the cash for a bid.

The maker of Dairy Milk has already turned down an opening bid of £10.2bn from Kraft, which has until 9 November to formalise a new approach.

While Cadbury could still hold on to its independence, sources close to the confectioner have indicated that there is a strong chance it may have to cede control.