Traders in the options market, who accurately predicted the demise of Bear Stearns (if not helped push it to a foregone conclusion earlier this month) and a higher bid by JPMorgan, piled into April call options on Countrywide Tuesday.
Simon Marshall-Lockyer, an analyst at Bear Stearns, an investment bank, reckons Mr Peltz might also push Cadbury to bid for Kraft's confectionery unit.