New bidders are believed to have entered the fray for United Biscuits (UB).
The private equity-backed owners of the company, Blackstone Group and PAI Partners, are understood to have recruited Goldman Sachs and JP Morgan to prepare a sale or stock market flotation of UB.
Companies now believed to be in the running include The Filipino Conglomerate, most known for its beer brand, Italian confectionery group Ferrero, Ulker of Turkey and the Ontario Teachers’ Pension Plan, which owns rival biscuit-maker Burton’s.
Analysts expect an announcement in mid-October regarding whether the company will go to auction or become a public listing.
Last month Kelloggs was also understood to be looking at buying the company.
UB has refused to comment on speculation.