Chocolate makers Hershey and Ferrero have been exploring making a bid for Cadbury, which has already rejected a $16 billion offer from Kraft. Under British law, Kraft has until about mid-January to raise its bid proposal, which gives Cadbury a couple of months to find alternatives. Hershey is too small to buy Cadbury on its own, and has been working with JPMorgan to find a partner, the source said. A Hershey-Ferrero team might be able to make an all-cash bid, giving them an advantage over Kraft, which is using debt financing and could put Cadbury's credit rating at risk. The Ferrero sons might want to make their mark on their private, cash-rich company with the transformational Cadbury buy, consumer investment banker Marino Marin said. "There is a new wind sweeping through Europe," Marin said, with Italian companies like Fiat, which is in the same Alba region as Ferrero, looking to expand internationally. Buying Cadbury could also help Ferrero fill out its management ranks, another source said.