US chocolate maker Hershey is considering launching a solo bid of at least $17bn (£10bn) for British firm Cadbury, according to reports, BBC reported.
Under pressure from its charitable trust, Hershey has lined up funding from Bank of America and JP Morgan, the Wall Street Journal reported on Friday.
But the US company is still also considering a joint bid with Italy's Ferrero, the paper said.
Cadbury has already rejected a £9.8bn offer from food firm Kraft.