PHILADELPHIA, Jan 13 (Reuters) – U.S. chocolate maker
Hershey Co <HSY.N> is still working on a bid for Cadbury Plc
<CBRY.L> that would top Kraft’s hostile $17 billion takeover
offer, a source familiar with the matter said on Wednesday.
Hershey authorized drawing up a bid for Cadbury and a formal
offer could be made within two weeks, the Financial Times said,
citing a person familiar with the matter. Hershey has until Jan.
23 to make a bid under UK Takeover Panel rules.
NEW YORK (Reuters) – Already seen as a long-shot bidder, Italian chocolate maker Ferrero’s interest in Cadbury Plc has cooled as the hurdles of getting financing and finding suitable partners before the deadline becomes increasingly daunting, sources familiar with the situation said.
With Ferrero more firmly on the sidelines and other potential rival, Nestle, ruling itself out of the auction, Hershey Co has become more isolated in its ability to launch a bid to counter hostile suitor Kraft Foods Inc.
NEW YORK, Jan 7 (Reuters) – Already seen as a long-shot
bidder, Italian chocolate maker Ferrero’s interest in Cadbury
Plc has cooled as the hurdles of getting financing and finding
suitable partners before the deadline becomes increasingly
daunting, sources familiar with the situation said.
With Ferrero more firmly on the sidelines and other
potential rival, Nestle <NESN.VX>, ruling itself out of the
auction, Hershey Co <HSY.N> has become more isolated in its
ability to launch a bid to counter hostile suitor Kraft Foods
PHILADELPHIA/NEW YORK, Jan 5 (Reuters) – Swiss drugmaker
Novartis <NOVN.VX> is taking a rare stance in the M&A world by
lowballing Alcon’s minority shareholders.
Offering disparate prices for different stock constituents
is rare in U.S.-listed company deals, where buyers are fearful
of scrutiny and lawsuits. But the Novartis move is shielded by
Swiss takeover law, which hampers minority shareholders’
ability to balk.
PHILADELPHIA (Reuters) – British confectioner Cadbury Plc may feel more comfortable in the embrace of Hershey Co, but a slew of potential obstacles could make Hershey the lesser choice in the eyes Cadbury investors.
A serious effort by Hershey to surpass Kraft Food Inc’s $16.8 billion hostile offer for Cadbury would require careful orchestration of financing, meeting the legal requirements of Hershey’s controlling trust, and navigation of local Pennsylvania politics.
PHILADELPHIA (Reuters) – Kraft Foods Inc may raise its offer for British chocolatier Cadbury Plc or offer more cash in its bid if rival takeover offers emerge, a source familiar with the situation said on Sunday.
Kraft took a $16.8 billion hostile offer for Cadbury to shareholders two weeks ago. Most of the remaining large players in the global confectionery industry — U.S.-based Hershey Co, Italy’s Ferrero and Switzerland’s Nestle — are now weighing takeover bids themselves, according to Reuters sources and media reports.
PHILADELPHIA (Reuters) – U.S. chocolate maker Hershey Co is considering launching a bid of at least $17 billion for British chocolatier Cadbury Plc as it seeks to trump a hostile offer by Kraft Foods Inc, a source familiar with the matter said on Friday.
Hershey has lined up deal funding from Bank of America and JP Morgan Chase & Co to make a solo offer for Cadbury, but is also still weighing a joint bid with Italy’s Ferrero Spa, the source said.
LONDON/PHILADELPHIA (Reuters) – Akeel Sachak, global head of the consumer team at Rothschild, may get a seat at the table for this year’s sweetest deal after all.
Goldman Sachs <GS.N>, Morgan Stanley <MS.N> and UBS <UBSN.VX> secured the coveted roles defending Cadbury <CBRY.L> against Kraft’s <KFT.N> $16.7 billion hostile offer, but the Rothschild rainmaker is now advising Italy’s Ferrero as it looks at the British chocolatier and could spark a bidding war.
PHILADELPHIA/LONDON (Reuters) – Cadbury Plc <CBRY.L> suitors Ferrero and Hershey Co <HSY.N> have weighed breaking the UK confectioner up into separate businesses as part of a friendly, all-cash bid, a source familiar with the situation said on Friday.
Italian chocolate maker Ferrero and U.S.-based Hershey said on Wednesday they were reviewing a possible offer for Cadbury, which is the target of a hostile 9.9 billion pound ($16.5 billion) bid by U.S. food group Kraft Foods Inc <KFT.N>.
CHICAGO/PHILADELPHIA (Reuters) – Colgate-Palmolive Co <CL.N> shares hit a new year high on Wednesday after a report suggested that the toothpaste maker could be close to linking up with Lysol manufacturer Reckitt Benckiser Group Plc <RB.L>.
The Telegraph reported online that Britain’s Reckitt is close to announcing a “multi-billion pound, cross-border transaction,” but said it was unclear which company Reckitt was targeting.