LONDON — Shareholders in British candy maker Cadbury PLC are looking for a fat increase in the hostile takeover bid by Kraft Foods Inc., as Kraft faces a deadline today for changes to its bid.

Cadbury shares moved above 800 pence in Monday trading, indicating the market was looking for Kraft to jump to that level or higher. Kraft's $17.1 billion offer now values the British chocolate and gum company at about 770 pence, an offer which Cadbury dismisses as "derisory."

The Wall Street Journal reported late Monday that Kraft was closing in on a deal to buy Cadbury for as much as $19 billion. The newspaper cited people it did not identify that it said are familiar with the deal. It said the companies were in talks that could lead to a friendly deal announcement today.

The BBC also reported Monday evening, without citing sources, that Kraft may raise its offer to between 840 pence and 850 pence a share. The BBC added that Cadbury may accept the revised offer.

If Kraft wants to raise its bid, it has until 7 p.m. Tuesday to do so. The Hershey Co., which reportedly is working on a possible bid, has until Saturday under U.K. takeover rules.