Hershey, Ferrero in early talks on Cadbury: Source
Published on Wed, Nov 18, 2009 at 09:52 | Source : Reuters
Updated at Wed, Nov 18, 2009 at 15:33
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Hershey, Ferrero in early talks on Cadbury: Source
US chocolate company Hershey Co held "very preliminary" talks with Italian chocolate maker Ferrero SpA about a potential joint bid for Cadbury Plc, a source familiar with the talks said on Tuesday.
US chocolate company Hershey Co held "very preliminary" talks with Italian chocolate maker Ferrero SpA about a potential joint bid for Cadbury Plc, a source familiar with the talks said on Tuesday.
"It's very preliminary. Very early in the process," said the source, who declined to be named because he was not authorized to speak to the media.
A joint bid would seek to thwart Kraft Foods Inc's USD 16.2 billion hostile takeover bid for Cadbury, which the British confectioner has dismissed as too low and strategically unsound.
