NEW YORK (AP) — The Wall Street Journal reports that Hershey Co. may make a $17 billion competing bid for UK candy company Cadbury.
The newspaper says the bid wouldn't be ready for two weeks and terms "are in flux," but it could top the $16.5 billion offer by Kraft Foods Inc.
The Journal said people familiar with the offer say the charitable trust that controls Hershey Co. is prodding CEO David West to beat Kraft's offer and that Hershey could offer $10 billion itself plus $2 billion in new Hershey shares and $3 billion to $5 billion from investors.
Representatives of Cadbury, Hershey Co. and the trust declined a request from The Associated Press for comment on the report. Kraft representatives did not immediately respond to the request.
To add a comment, please register or login.