In a statement to the stock market this morning, however, the US food giant appealed directly to shareholders, saying it is "committed to working toward a recommended transaction and to maintaining a constructive dialogue and is announcing this proposal as a means to encourage and further that process".
Kraft has offered shareholders a cash and shares deal valuing Cadbury at 745 pence per share, a 31% premium based on Friday's closing prices.
Kraft said adding Cadbury would create a company with global revenues in excess of $50bn and create savings across the enlarged entity of $625m annually.
Irene B. Rosenfeld, chairman and chief executive of Kraft Foods, said: "This proposed combination is about growth. We are eager to build upon Cadbury's iconic brands and strong British heritage through increased investment and innovation.
"We have great respect and admiration for Cadbury, its employees, its leadership and its proud heritage. As we have done, Cadbury has built wonderful brands by focusing on quality, innovation and marketing, but we believe the next stage in Cadbury's development will be challenging, given the increased importance of scale in the industry.
"Cadbury's brands, which are highly complementary to our portfolio, would benefit from Kraft Foods' global scope and scale and array of proprietary technologies and processes."
Cadbury, the makers of Dairy Milk and Crème Eggs, has been lauded by the ad industry in recent years, most notably for its award winning Gorilla campaign created by Fallon.
In September last year, Saatchi & Saatchi Fallon (SSF) group took over the £100m Cadbury business from Publicis.
Earlier, in June last year, Omnicom-owned PHD picked up the estimated £25m media planning and buying account for Cadbury.
Cadbury was unavailble for comment.