Hershey rules out Cadbury

By Administrator |

In a statement released yesterday, The Hershey Company completely ruled itself out of making any counter offer for Cadbury which is currently the subject of a Kraft Foods' revised and agreed bid worth some ?11.5bn

($18.8bn).

The company said: ‘The Hershey Company announces that it does not intend to make an offer for Cadbury…’ and it added that the statement was issued pursuant to Rule 2.8 of the City Code on Takeovers and Mergers.

This follows the earlier announcement by Hershey on November 18, 2009 that it was reviewing its options with respect to a potential offer for Cadbury.

Under UK Takeover Panel rules, Hershey was obliged to inform the body if it was pursuing Cadbury or not by next Monday (January 25).

Most popular

rss
image description image description
International

Winners revealed: Global Travel Retail Awards 2023

The winners of the 2023 Global Travel Retail Awards were announced at a glittering ceremony at...

image description image description
International

‘Go further with collaboration’, hear attendees

TR Sustainability Week 2023 live sessions kicked off on Tuesday* (5 September) with keynote...

image description image description
International

Heinemann seals Ryanair inflight contract extension

Gebr. Heinemann has extended its contract with low-cost carrier Ryanair to operate its inflight...

image description

In the Magazine

TRBusiness Magazine is free to access. Read the latest issue now.

E-mail this link to a friend

In case you missed it...

left
image description
Nestlé supports category vision with new TREX sustainable brand International
image description
Air traffic control issues temporarily limit Gatwick flights until 1 October Europe
image description
Heinemann & Me relaunches at SYD in time for domestic stores opening Asia & Pacific
image description
Be Keen launches GTR premiumisation review service for fragrances International
image description
Children’s gifting on the agenda as PVM returns to TFWA World Exhibition International
image description
Mars ITR on Cannes mission to ‘confront and inspire shoppers to spend’ International
image description
Gatwick invites bids for multi-category retail tender Europe
image description
Eurotunnel to call 800sq m duty free tender at French terminal in Coquelles Europe
image description
Canada Goose opens first airport retail store, landing in Frankfurt with FAR Europe
image description
Travel Retail Norway is latest signatory to anti-illicit trade declaration International
right