On the Street -- New Bidders for Cadbury?
November 18/London/Associated Press Financial Wire -- The Hershey Co. and Ferrero International SA say they are considering a possible offer for Cadbury PLC, which is already the target of a hostile bid by Kraft Foods Inc.
"Hershey confirms that it is reviewing its options and at this stage there can be no assurance that any proposal or offer from Hershey will be forthcoming," the company said in an announcement to the London Stock Exchange.
Ferrero, based in Italy, posted a similar statement.
Shares in Cadbury, based in Britain, were up 1.4% as speculation grew that a rival might emerge for Kraft's attempt to take over the British company.
Cadbury has said Kraft's bid, worth $16.4 billion, significantly underestimates Cadbury's worth.
From the November 23, 2009, Prepared Foods E-dition