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


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).


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