A sign that deals may be back in fashion as Kraft announces a whopping $16.7 billion unsolicited bid for Cadbury. The offer represents a huge 40% premium and shares in the chocolate company shot up by even more than that this morning. They have pulled back a teeny bit in PM trading.

The announcement got the rest of the market hot under the collar too. although Cadbury has rejected offer, deal junkies clearly hope there’s more to come.