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What does 2010 hold for Cadbury?

Speculation regarding the future of Cadbury, the UK chocolate giant, has intensified over the last few days with the company announcing a delay in the release of its results. Many believe this is purely and simply because the company is in talks with potential white knight bidders in the background and would prefer to announce a potential agreement and results at the same time. Whether this is true remains to be seen but we should find out in the first couple of weeks of 2010.

So far Kraft Foods has the only firm offer on the table and while the company will need to increase its offer to win control of Cadbury, so far it continues to play its cards close to its chest. There had been some concern about the level of debt the company would need to take on to acquire Cadbury, with some shareholders resisting any increase in borrowings, but we should see further developments very soon. There is a feeling amongst analysts and researchers in the City that Cadbury's days as an independent operation are well and truly numbered although at this point nothing can be ruled in or ruled out for certain.

There is also speculation that other UK giants could be on the receiving end of overseas takeover approaches in the first half of 2010 if the UK currency remains in the doldrums.

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