Posted by Turgut Ziyal on Wednesday, March 10, 2010,
In :
confectionery
US chocolatier Hershey has launched new chocolate gifts for the Easter period.
The Hershey range includes three varieties of chocolate bunnies; a 5oz Hershey’s Solid Milk Chocolate Princess Bunny, Hershey’s Cookies ‘n’ Crème Bunnies and Hershey’s Bliss Milk Chocolate Bunnies with a Meltaway Centre.
A Cadbury range, for which Hershey holds the US licence, includes; Cadbury Clucking Bunny Plush Toy with a Cadbury Crème Egg, Cadbury Mini Eggs Candy and Cadbury Caramel Eggs.
In addition,... Continue reading ...
Ferrero has ruled out a rival bid for Cadbury, clearing the way for Kraft Foods to complete its £11.7 billion ($18.9 billion) proposed takeover of the British confectioner, Reuters reported.
Fellow chocolate maker Hershey said on Friday it had no intention of bidding for Cadbury, so with Nestlé already ruled out, Kraft appears on course to complete its recommended bid by the deadline of Feb. 2.
“Further to its announcement of Nov. 18, 2009, Ferrero International SA confirms that it doe... Continue reading ...
U.S. chocolate maker Hershey Co has decided not to launch a counterbid for British confectioner Cadbury Plc following a unanimous vote by its board late on Wednesday, the Financial Times said, citing a person briefed on the matter. Source: Financial Times Continue reading ...
It is expected that today (monday) Kraft may raise its initial value of hostile bid for Cadbury above 800p. Today is a holiday in US and stock markets are closed. Despite supportive announcements of several British investors to Cadbury management, those US investors of Cadbury which hold at least 40% of the shares may be willing to exchange their shares with Kraft when the offer is around 820p or over.
On the other hand, the rumors that Hershey is preparing to make a bid, gets stronger. We ma... Continue reading ...
Some people who have internal access claim that Hershey is preparing a counter-bid to Kraft hostile offer for Cadbury. They say that Hershey can make a formal offer before the January 23 deadline, .
Such a Hershey bid would certainly be welcomed by Cadbury. Although Cadbury has not solicited a “white knight” bid from Hershey publicly, the confectioner has made clear that it would prefer Hershey to Kraft.
Roger Carr, the UK company’s chairman, has told the Financial Times that Her... Continue reading ...
American banks JP Morgan and Bank of America are ready to lend Hershey more than $7bn (£4bn) to help it bankroll a bid for Cadbury that would challenge an offer for the UK chocolate maker from Kraft Foods.
City sources say Hershey is ready to offer $17bn, trumping Kraft's $16.2bn bid, which has fallen in value because the shares component has been hit by a fall in its stock price.
Hershey, which is smaller than Cadbury and already has debts of around $1.5bn, would help to fund a bid by m... Continue reading ...
Hershey's controlling Trust has belatedly accepted that, without doing a deal, the chocolate company faces slow decline. That removes one obstacle to Hershey challenging Kraft in the battle for Cadbury.
Hershey will struggle to acquire a company twice its size. Given limited geographical overlap, moreover, synergies would probably be less than Kraft’s targeted $625m a year. A mooted $17bn offer, including $10bn cash, would leave combined Hershey- Cadbury with debt of five times earnings be... Continue reading ...
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| getfoodnews |
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In this blog I try to compile the news related with food industry. This includes food companies, retailers, ingredients, regulations, mergers&acqusitions and others. In each post I try to designate the source of the news and add a link to the original document.
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