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January 26, 2007

UK: Cadbury rises on takeover speculation

Shares in Cadbury Schweppes were up 1.79% at time of press, driven by renewed speculation that the world’s largest confectionery group could be facing a takeover bid.

Shares in Cadbury Schweppes were up 1.79% at time of press, driven by renewed speculation that the world’s largest confectionery group could be facing a takeover bid.

Rumours that Nestlé, Hershey or Kraft had approached with a view to acquiring the UK confectioner first surfaced in February 2006.   

Shares were also driven up today (26 January) by the suggestion that Cadbury could be considering a spin-off of part of its business, possible its US drinks division.

Cadbury stock had risen to GBP5.70 (US$11.16) at 3pm today (GMT), having reached an earlier high of GBP5.74.

Cadbury refused to be drawn on the issue: “Our policy is not to comment on market speculation,” a spokesperson told just-food.

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