Cadbury Sets US Drinks Deadline

Cadbury Schweppes has set a firm deadline of tomorrow for final bids from at least two rival private equity consortiums for its US beverages arm.

The possibility of a demerger and float appears to be receding, and plans for a sale accelerated because of the high level of interest, the Times reported.

One consortium is comprised of Blackstone, Kohlberg Kravis Roberts, and Lion Capital, while another consists of Bain Capital, Texas Pacific, and Thomas H Lee. A third includes Canada's Cott Corp and other private equity groups.