Ferrero drops out of Cadbury race
Monday 25th January 2010, 8:08AM GMT.
Italian confectioner Ferrero ruled itself out of the Cadbury takeover race today after last week’s recommended £11.9 billion bid from US food giant Kraft.
Ferrero – famed for its Rocher chocolates and advertisements – had been weighing up its options over the Dairy Milk maker since November amid rumours of a joint approach with US rival Hershey.
But Hershey formally withdrew from the race on Friday, clearing the way for Kraft’s takeover.
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