Share activity at convenience food group Geest doubled in volume yesterday, its price up 30p to 444p.
Traders speculated that Associated British Foods was looking at the fresh foods manufacturer.
No comment was forthcoming from either Geest or ABF.

Shoppers who spend hours searching for an elusive item are to be given help in the form of a satellite-guided shopping trolley.
According to the Daily Mail product designer Murray Laidlaw has invented the trolley, fitted with a global positioning system (GPS), to guide shoppers to their products.
The device can also suggest recipes, advise on special offers and work out the quickest route around the store.
Laidlaw has been given a £30,000 government grant to develop the trolley and hopes to have a prototype within six months.