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Shareholders in the Italian-based Ferrero SpA have divergent opinions on whether to make a takeover bid for Cadbury Plc. or start forging an alliance with the British confectioner, the Times reported, without quoting sources.
Michele Ferrero, the head of the family controlling the Ferrero business, would like to keep the company independent rather than involve other investors in a play for Cadbury or take part in a tie-up, whereas his sons, Pietro and Giovanni, would rather start a partnership with Cadbury and have reportedly discussed options with investment bankers.
The Wall Street Journal quoted anonymous sources as saying that the U.S.-based confectioner Hershey Co. had been having "high level" negotiations with Ferrero regarding a possible joint bid for Cadbury.
The two companies yesterday said that they were contemplating a joint bid, but the project was in an early stage. A Hershey - Ferrero bid would rival the 16.7 billion USD bid placed by Kraft Foods Inc. for the British confectioner earlier this month.
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