Cadbury Schweppes has remained silent on reports that it has turned down a second offer for its US drinks business.

Without citing sources, the Financial Times said yesterday (13 September) that the company has rejected a bid from a consortium of Blackstone Group, KKR and Lion Capital in the region of GBP6.4bn (US$12.87bn) and GBP6.9bn.

Cadbury Schweppes has remained silent on reports that it has turned down a second offer for its US drinks business.

Without citing sources, the Financial Times said yesterday (13 September) that the company has rejected a bid from a consortium of Blackstone Group, KKR and Lion Capital in the region of GBP6.4bn (US$12.87bn) and GBP6.9bn.

Cadbury reportedly was not satisfied with the deal, which would have included a vendor-financing proposal. The proposal would have involved Cadbury in financing the sale, the newspaper said.

The rejection of the bid makes it more likely that Cadbury will spin the unit off onto the market rather than sell it outright, the report added.

When contacted by just-drinks, a spokesperson for the company would not be drawn on the report, adding: "We selected a dual-track approach in March. We will continue to do so."

No timetable for a decision on the future of the drinks unit has been set, the spokesperson said.