Updated from 12:34 a.m. EST

LONDON (

TheStreet

) --

Cadbury

(CBY)

board members have told directors of

Hershey

(HSY) - Get Report

they would support a takeover bid from Hershey and provided guidance on what price would draw support, reports say.

Hershey has sought direction in these talks from Cadbury, which is trying to fend off a

hostile bid

from

Kraft Foods

(KFT)

, the

Wall Street Journal

reports.

Hershey has disclosed financial terms and the structure of a possible offer. It also has asked if Cadbury would be open to selling certain assets, the

Journal

reports, citing several people familiar with the matter.

Reuters

reports Cadbury isn't only seeking a higher price than Kraft's offer of almost $17 billion, but a merger partner that would let the U.K. confectionary maker have some say in a combined company.

Reuters

cited two sources familiar with the talks.

A Hershey offer has the support of Cadbury board members and Cadbury CEO Todd Stitzer, the

Journal

notes.

Cadbury said Thursday it plans to publish an updated defense against Kraft's hostile bid on Tuesday. It expects to report 2009 earnings next Thursday.

Talks between Hershey and Cadbury have been taking place for about a month, but they have become "more frequent and more open" in recent weeks, a person said, the

Journal

reports.

Kraft's bid for Cadbury received conditional approval from the European Commission Wednesday as long as Kraft sheds Cadbury's Polish and Romanian chocolate businesses.

-- Written by Joseph Woelfel in New York.

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