| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: FOOD PRODUCTS |
Hershey and Ferrero confirm Cadbury interest |
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Wed 18 Nov 2009
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LONDON (SHARECAST) - US sweet maker Hershey and Italian chocolate firm Ferrero have confirmed that they are considering a joint bid for Cadbury.
The bid interest comes in the wake of a £10bn offer from US food giant Kraft, which was dismissed as ‘derisory’ by Cadbury chairman Roger Carr.
Hershey, which makes Reese’s Peanut Butter Cups and Jolly Rancher sweets, issued a statement saying it is ‘reviewing its options and at this stage there can be no assurance that any proposal or offer from Hershey will be forthcoming.’
Ferrero, the family-run maker of Ferrero Rocher chocolates and Nutella chocolate spread, said ‘it is in the preliminary stages of evaluating its options in respect of Cadbury.’
Reports say that the two companies are in debate over what to do with Cadbury’s non-chocolate brands, including Trident chewing gum and Halls cough sweets.
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