"While the full details of all these transactions have not been disclosed, it's likely that their collective value was as high as Euro750m. It's a fair assumption that the decision to sell by way of auction was a key factor in driving values that high, " said Mark Spain of IBI Corporate Finance. (IBI advised C&C on selling Tayto to Largo Foods and myhome. ie to the Irish Times. ) The prospect will be welcomed by some, particularly business journalists. But the higher prices that can be commanded at auction are a tradeoff for secrecy.

"Some sellers are simply not happy with the public glare that an auction will generate and the more parties there are involved in an auction then the greater prospect of the process becoming public knowledge, " Spain said.

Fodder for the business pages can be bad for the deal, however.

"Such a leak can have a destabilising effect on the business from the point of view of staff and the likely increased targeting of customers by competitors, " he added.