Be honest. How well-informed do you feel about the pros and cons of Kraft’s takeover approach to Cadbury?

If Irene Rosenfeld, the US food group’s chief, had launched a formal bid for the confectioner on September 7, Kraft would have published its offer document this week. Instead, we are still blundering through the fog that now habitually descends when informal bid approaches are made – a netherworld of innuendo, spin and rival sweetie-filled goodie bags.