The U.K. Takeover Panel said Wednesday that Kraft Foods (KFT) must, by 1700 GMT on Nov. 9, either announce a firm intention to make an offer for Cadbury PLC (CBRY.LN) or walk away.

MAIN FACTS:

-Each of the parties has accepted this ruling.

-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com