Italian confectionary manufacturer Ferrero has lined up a multi-billion dollar loan which could be used to launch a takeover bid for Cadbury.
The newspaper La Stampa reported in December that the firm was still considering putting in an offer for Cadbury, despite not making a move since initial interest was shown in September. Cadbury shareholders are currently deciding whether to accept a hostile takeover bid from Kraft which was improved last week to include a higher cash offer.
Il Messaggero has now reported that Ferrero has been taking to Italian banks to try and acquire a syndicated loan of $4.5 billion (£2,790,442,923). It is believed that if the funds are available Ferrero will use the money to launch a bid to rival Kraft's.
Reports last week suggested that difficulties with financing could have derailed any plan Ferrero had but the latest news suggests it is back on track.
As well as producing the luxury chocolate brand Ferrero Roche, the Ferrero group owns the Kinder and Tic-Tac brand names.
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