London, England (CNN) -- The board of British chocolate maker Cadbury accepted a buyout offer from American food giant Kraft Tuesday, a deal that would end the nearly 200-year-old independence of the beloved British brand. The board has agreed to recommend the offer to Cadbury shareholders, who have until February 2 to decide -- but they are expected to approve it. Kraft's offer Tuesday is its biggest one yet for the maker of Creme Eggs and Dairy Milk chocolate bars. It values Cadbury at £13.3 billion ($21.8 billion), or £8.40 ($13.77) per share. In addition, Cadbury shareholders will be entitled to receive 10 pence (16 cents) per Cadbury share.
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British chocolate maker Cadbury accepts buyout offer from U.S. food giant Kraft
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Kraft offer for Cadbury is 840 pence per share, valuing Cadbury at £21.8 billion
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Agreed cash-and-stock offer ends five months of hostile relations
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Combined Kraft/Cadbury will be one of world's biggest confectionery companies
The January 5 sale helped Kraft boost the cash element of its offer, which would give Cadbury shareholders cash in addition to @placeholder shares.