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Swiss food giant Nestlé has indicated that it still expects its takeover of US ice cream maker Dreyer’s Grand Ice Cream to go ahead despite market speculation that it would be blocked.

A Nestlé spokesman said the company would make no further comment on the matter, but asked if this meant that the company was backing away from the merger, Marcel Rubin said “No”, reported Reuters.

Previously Nestlé has said it expects the deal to be completed in the first half of this year, despite a competition inquiry into the deal by the US Federal Trade Commission.

Earlier in the day yesterday [Tuesday], Dreyer’s stock fell 5.8% on a rumour that one lawyer monitoring the deal had sent a note to clients saying that the FTC is moving increasingly toward blocking the takeover.

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By GlobalData