Italian confectioner Ferrero has met with private equity firms as well as Hershey Co
The coming weeks will determine whether the family-held company will make an offer for the British confectionery maker rivaling a hostile 10 billion pound ($15.9 billion) bid from U.S. food group Kraft Foods Inc
Ferrero has met in recent weeks with private equity firms Kohlberg Kravis Roberts & Co
Ferrero also has talked over an offer in recent weeks with Hershey, with the goal an alliance that could offset Kraft's bid, the paper said.
A Ferrero spokesman was not immediately available for comment. The company said on December 27 nothing had changed in its position that it was in the preliminary stages of evaluating options on Cadbury.
Britain's Takeover Panel gave Cadbury three extra days this week to publish 2009 results that could become a key plank in its defense against Kraft's hostile bid.
Cadbury said on December 14 that Hershey and Ferrero had both indicated they were also contemplating bids.
(Reporting by Ian Simpson; Editing by Ron Askew)