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Cadbury Schweppes Up On Renewed Nestle Bid Speculation

Fri, 02/17/2006 - 8:03am

As reported by Drinks Business Review Online

Shares in branded food and beverage company Cadbury Schweppes have been lifted by renewed talk that Nestle is eyeing the business as a potential takeover target.

As one of the main blue-chip risers, Cadbury rose 6.5 pence to 555 pence yesterday. Other dealers wondered, however, if a marriage with Nestle would be approved by regulators.

US broker Citigroup told the Guardian newspaper that Cadbury's could also be a target for Hershey's, which has expressed the desire to reduce its dependence on chocolate and develop a presence in emerging markets.

"A deal would combine Hershey's dominant presence in the US with Cadbury's strength in international markets, creating a global confectionery powerhouse with a 16% market share, some 70% larger than Mars," Citigroup told the Guardian.

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