Hershey to team with Ferrero for Cadbury Bid?

November 18, 2009

(ChattahBox) — Hershey Co. the maker of Reese’s Peanut Butter Cups, is supposedly getting it’s ducks in a row, to launch a rival bid to Kraft’s offer for British candy maker Cadbury. Cadbury last week rejected a formal $17 billion bid from U.S. food giant Kraft as “derisory.” Analysts had begun to write off the chances of a bidding war for Cadbury as Hershey is seen as too small to act alone and Nestle had seemed uninterested.
However according to new reports, Hershey, the largest U.S. chocolate maker, has been in talks for weeks to team up with Ferrero SpA, the Italian maker of Tic-Tacs, Nutella, and Ferrero Rocher chocolates. According to The Wall Street Journal, Hershey has talked to Bank of America and J.P. Morgan about financing the deal, and the banks have been receptive. Cadbury offers Hershey based in the Pennsylvania town of the same name, entry into international markets.


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