If you've been following Kraft 's (NYSE: KFT) takeover proposalfor leading confectionary company Cadbury (NYSE: CBY), you know that not much has yet happened beyond Cadbury's initial rejection. That raises a crucial question: Will another suitor emerge before Kraft can push a revised offer?

Not enough
Since making its rejection public, Cadbury has released the full text of Chairman Roger Carr's reply to Kraft CEO Irene Rosenfeld. There are plenty of juicy morsels in this missive, including this standout gem: "Under your proposal, Cadbury would be absorbed into Kraft's low growth, conglomerate business model, an unappealing prospect which contrasts sharply with our strategy to be a pure play confectionery company."

Carr proceeds to describe "uncertain value" in the cash-and-share offer, since Kraft stock has slumped since the announcement. The takeaway, as I see it, is that any potential suitor will not only have to offer a higher bid, but also be ready to pay up primarily in cash.

With that in mind, let's check out how some well-known packaged foods and consumer-staples companies compare to Kraft and Cadbury on key financial metrics.

Who wants candy?

Company

Market Cap (in billions)

Long-term Debt-to-Equity Ratio

Current Ratio

Cadbury

$17.8

0.45

0.9

Kraft

$38.5

0.77

1.1

Nestle (OTC BB: NSRGY)

$146.6

0.17

1.0

Unilever (NYSE: UL)

$76.4

0.9

0.9

Hershey (NYSE: HSY)

$9.0 Continued...