Cadbury Schweppes refuses to enter the rumour-mill of speculation again linking Hershey and Kraft Foods with bids for the soft drinks and confectionary company.
According to The Guardian newspaper, Cadbury’s share price surged as around 17m shares were traded yesterday (9 May)
Reports also suggested that US billionaire Warren Buffett could be interested in the company, after a similar rumour circulated two years ago.
A Cadbury Schweppes spokesperson told just-food: “We never comment on this kind of speculation.”
Cadbury shares purportedly reached GBP0.557 (US$1.035) yesterday (9 May) before closing at GBP0.550 and The Guardian said that analysts at corporate broker Panmure Gordon rated buy and set a GBP0.630 target on Cadbury.
Panmure was unavailable for further comment when contacted by just-food today (10 May).
At the time of press, Cadbury’s share price stood at GBP0.544.