TIMELINE: Kraft bid timetable ticks away for Cadbury

(Reuters) - The attempt by U.S. food company Kraft Foods to buy British confectioner Cadbury has entered its final month with shareholders still awaiting an expected higher offer before deciding whether to accept or reject Kraft's current offer valued at around 10.2 billion pounds ($16.4 billion).

The current cash and shares offer by Kraft posted to Cadbury shareholders on December 4 values the British confectionery group at 739 pence a share, which compares with Cadbury's closing share price of 805 pence on Monday.

Here is how the process will play out under the 60-day timetable for bidding under British takeover rules.

Jan 5 (DAY 32) - First closing date for Kraft's bid at 1300 GMT. Most Cadbury shareholders are set to wait for an expected higher Kraft bid before accepting or rejecting the offer.

Jan 12 (DAY 39) - Last date for Cadbury to publish new information such as profit forecasts and future outlooks, but Britain's Takeover Panel has allowed a three-day extension for Cadbury to include further information. Cadbury expected to publish key financial figures for 2009.

Jan 15 (DAY 42) - Cadbury is allowed to publish final information on its defense in this three-day extension.

Jan 19 (DAY 46) - Last date for Kraft to raise its offer unless any competing offer is submitted.

Jan 23 (DAY 50) - Last date for potential bidders, who have already expressed interest in Cadbury such as Hershey and Italy's Ferrero, to submit a fully financed bid. If either these fail to bid then they have to wait six months before bidding again for Cadbury.

Feb 2 (DAY 60) - Date by which acceptances from Cadbury shareholders have to be in to count toward the 50.01 percent which Kraft will need to win. If Kraft fails, it has to wait twelve months before bidding again for Cadbury.

This is also the last date for a new bidder such as Nestle to enter the fray. Entry of a new bidder would reset the timetable clock, allowing this new bidder up to 28 days to post an offer document and set the 60-day timetable going again.

($1=0.6211 pounds)

(Compiled by David Jones and Victoria Howley; Editing by Greg Mahlich)