Business

Report: Hershey may launch bid for Cadbury

Posted November 19, 2009 10:00 pm

Associated Press

NEW YORK -- The Wall Street Journal reports that Hershey Co. may make a $17 billion competing bid for UK candy company Cadbury.

The newspaper says the bid wouldn't be ready for two weeks and terms "are in flux," but it could top the $16.5 billion offer by Northfield-based Kraft Foods Inc.

The Journal said people familiar with the offer say the charitable trust that controls Hershey Co. is prodding CEO David West to beat Kraft's offer and that Hershey could offer $10 billion itself plus $2 billion in new Hershey shares and $3 billion to $5 billion from investors.

Representatives of Cadbury, Hershey Co. and the trust declined a request from The Associated Press for comment on the report. Kraft representatives did not immediately respond to the request.

Article Comments

Article Categories
Business Communities Content Providers Counties Lake County Northfield

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.