Thursday, November 19, 2009

Chocolate groups Hershey, Ferrero eye Cadbury

AFP - US chocolate maker Hershey and Ferrero of Italy said on Wednesday they were mulling a potential counter-bid for British confectioner Cadbury, the object of a hostile offer from Kraft Foods.

The news could remould the chocolate-making sector with a takeover costing more than 10.0 billion pounds (11.2 billion euros, 16.8 billion dollars).

The Wall Street Journal, citing unnamed sources familiar with the matter, had reported on Tuesday that Ferrero was in talks with Hershey over a potential joint bid.

The pair said in separate statements to the London Stock Exchange on Wednesday that they were considering options regarding Cadbury

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