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Has Cadbury found its white knight in shining armour?

UK chocolate giant Cadbury has delayed publication of its results amid speculation that the company may well be on the verge of announcing a potential white knight takeover offer. The company is currently under pressure from American outfit Kraft Foods which has tabled a £10 billion offer, amid speculation that it will at some point increase its bid. However, there appears to be renewed interest from American outfit Hershey with Ferrero also mentioned as a potential bidder for the company. So has Cadbury found its white knight?

The company is remaining tight-lipped regarding the bid situation and this is unlikely to change under City takeover rules. However, this has not stopped the rumour mill from going into overdrive with some parties highlighting Hershey as the preferred bidder of the Cadbury board. Whether a deal has been put together over the last few days remains to be seen but something is starting to stir within Cadbury and we should see the results in the short term.

Even if Cadbury announces Hershey as a potential white knight bidder for the company this does not stop the likes of Kraft Foods, or any other potential bidder, from entering the fray and beating the offer from Hershey. At the end of the day it will be down to Cadbury shareholders as to whether the company is sold and at what price.

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