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Nestle plays coy as Kraft falls 7pc after Cadbury's rejection

Cadbury, the confectioner that rejected Kraft Foods Inc's bid on Monday, may attract suitors ranging from Nestle SA to Hershey Co and sell for as much as $21bn (e14bn), according to analysts.

The UK-based maker of Dairy Milk chocolate and Trident chewing gum spurned Kraft's $16.7bn bid, saying it "fundamentally undervalues" the company, and its shares surged past the offer price, suggesting investors are expecting a sweetened proposal from Kraft -- or a rival offer.

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