Hershey, Ferrero Mull Options on Kraft Target Cadbury |
| Bloomberg - Nov 18, 2009 |
Hershey Co. and Ferrero SpA said they’re evaluating their options for Cadbury Plc amid skepticism the companies will be able to outbid Kraft Foods Inc. for the U.K. candy maker.
Hershey, the maker of Reese’s Peanut Butter Cups, this morning said it’s “reviewing its options” and there’s no assurance of an offer. Ferrero, the Italian maker of Tic Tacs and Nutella spread, said it was in “preliminary stages of evaluating its options in respect to Cadbury.”
Neither statement from Hershey or Ferrero referred to the other company. The Wall Street Journal, citing people it didn’t identify, yesterday said Hershey, which makes and sells Cadbury brands in the U.S., has been in talks with Ferrero for weeks about a joint bid for Cadbury. Any approach would rival Kraft’s unsolicited offer of $10.3 billion pounds ($17 billion), based on yesterday’s closing share prices.
Read Full Article from Bloomberg
- Posted: 2009-11-18 11:38:06
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