Cadbury Hits a High on Hershey Talk
Thursday, December 3, 2009 3:28Shares in Cadbury shot to a record high on Tuesday as expectations grew that Hershey, the US chocolate maker, could make a friendly offer for its British rival.
Cadbury rose 13.5 to 814p on the Hershey speculation and amid talk that Nestle, the Swiss good giant, could also become embroiled in the battle for control of the Creme Egg and Wispa maker. Nestle is thought to be considering its options but analysts believe it could use the Cadbury battle as an opportunity to take back control of licences to its KitKat brand in the US held by Hershey.
The Swisss company would likely be prohibited from owning all the Cadbury due to competition concerns but could be interested in parts of the business.
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