Ferrero and Hershey (HSY) Still in Talks to Buy Cadbury - WSJ (KFT)
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In a delicious new turn of event, it's reported that Hershey (NYSE: HSY) is in talks with Italian chocolatier Ferrero SpA to make a bid for Cadbury (NYSE: CBY), a Wall Street Journal article reports today.
Ferrero is also is talks with buyout firms like Blackstone Group (NYSE: BX) to go into a joint offering for CBY. People familiar with the matter say that Ferrero isn't going to go into the deal without a partner in the process.
Ferrero and Hershey began talks back in December, when Kraft (NYSE: KFT) made a bid for Cadbury.
Ferrero has at least €2 billion, or $2.88 billion, in cash. Advisors value any portion of the deal at €5 billion.
Ferrero is also is talks with buyout firms like Blackstone Group (NYSE: BX) to go into a joint offering for CBY. People familiar with the matter say that Ferrero isn't going to go into the deal without a partner in the process.
Ferrero and Hershey began talks back in December, when Kraft (NYSE: KFT) made a bid for Cadbury.
Ferrero has at least €2 billion, or $2.88 billion, in cash. Advisors value any portion of the deal at €5 billion.
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