Investor raises stake in Cadbury as Kraft bid looms

Cadbury Plc's biggest investor, Franklin Resources Inc., said it bought an additional 5 million shares of the U.K. confectioner, adding to the 4.4 million-share purchase it disclosed yesterday.

Franklin raised its stake in Cadbury to just under 104 million shares, or 7.6 percent of the company, according to a Regulatory News Service statement today.

Yesterday's purchase had been the U.S. money manager's biggest single share purchase in Cadbury since Kraft Foods Inc. made its unsolicited takeover bid for the U.K. company last month.