After a failed joint bid for Nabisco, Danone and Cadbury Schweppes are rumoured separately to be eyeing Keebler Foods, the second largest US biscuit maker. Cadbury cfo David Kappler said he had the resources to mount a sizeable bid without having to raise new capital, prompting a flurry of speculation over possible targets. Sunday Business said Cadbury had hired an investment banker to advise on a possible bid. Keebler has been put on the market by parent Flowers Industries for £3bn. Cadbury moved rapidly to deny the report, but analysts have been quick to point out that this figure neatly matches the amount in Cadbury's war chest, following a statement by Kappler: "£3bn or £4bn would not be a problem for the right acquisition." {{NEWS }}

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