Nestlé now ‘considering move for Cadbury’
Nestlé is reportedly considering a takeover approach for Cadbury to rival the £9.8bn hostile bid from Kraft Foods.
The Swiss food giant, whose brands include Kit Kat, had previously played down suggestions it could enter the battle for the control of the confectioner but chief executive Paul Bulcke is now thought to be pondering a bid.
The news comes as Cadbury chairman Roger Carr told US chocolate maker Hershey a bid upwards of £10bn would be required, after Hershey and Ferrero confirmed they were considering a joint approach for the Dairy Milk maker.
“Clearly, whilst some potential [bidders] are more aligned with our business model than others, it is the value of the offer rather than the source of the offer that is our priority,” Carr told the Sunday Telegraph.
Cadbury shares get boost from rival bid talk (19 November 2009)
Hershey and Ferrero eye joint Cadbury bid (18 November 2009)