Hershey and Ferrero, who reported separately study the case without providing the assurance that it succeed, would consider a joint bid by a nearby spring.
However, investors are wondering about the possibility of such cons-supply on the British confectioner.
Hershey is much smaller than Cadbury, the world of sweets behind Mars-Wrigley. The U.S. group is also heavily indebted and controlled by a charitable foundation.
As for the Ferrero family, which controls brands like Nutella and Kinder, it has so far made few acquisitions, which explains why some doubt an alliance between the two groups to launch an acquisition.
"It's not impossible, but we should be skeptical," said Alex Molloy, an analyst at Credit Suisse
"We would be very surprised if they (Hershey-Ferrero) were involved", added one of the top ten shareholders of Cadbury, who requested anonymity.
Ferrero said Wednesday it had just begun to explore a bid for Cadbury, and Hershey said that explore different possibilities and had "taken note" of media speculation about a possible bid for Cadbury.
The U.S. group said it was not absolutely sure at this stage there is possibly an offer.
At the London Stock Exchange, Cadbury action ended up 1.21% at 797.6424 pence after passing the 800 pence at meetings, 802.5, for the first time since October 21, while Kraft promotes the UK's 721 pence per share.
KRAFT MUST GIVE AT LEAST 800 PENCE PER SHARE
Most analysts believe that Kraft, to succeed, will raise its bid for Cadbury to 800 pence at least.
"What it (the interest of Ferrero and Hershey) means for Kraft is that they want to sign, seal and realize that they will have to raise their offer," also notes the analyst of Edward Jones, Jack Russo.
Kraft first expressed his interest for Cadbury in September and made a hostile bid November 9.
Last week, Cadbury rejected the offer of the giant U.S. food said it was "ridiculous".
The British group has however vowed Wednesday he would consider any offer to provide her a good recovery but declined further comment as he was not in such a situation.
Some traders believe that if Ferrero prevail and Hershey, Cadbury may be broken.
"Ferrero wants to recover the European operations of Cadbury in chocolate, while Hershey could resume operations at the international," and commented one trader, adding that the two groups may need to combine to make an offer was likely to complicate the transaction.
According to sources close to the situation, JP Morgan, which advised Hershey would be willing to financially support his client. ( Ferrero, and Hershey could make a bid for Cadbury )
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