Word: hershey
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Dates: during 2000-2009
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...billion bid by food giant Kraft - expected to be detailed in offer documents circulated among shareholders from Friday - the tussle to take over tasty British confectioner Cadbury shows no signs of melting. In rejecting Kraft's hostile offer last month, Cadbury labeled it "derisory." Now U.S. rival Hershey has said it's mulling a bid of its own while Italy's Ferrero has also expressed an interest in gobbling Britain's favorite chocolate maker. While some doubt those companies' ability to come up with the money for such a big target, there are no such worries with Nestl...
...expected to publish a trading update on Dec. 15, outperformed all other major global food businesses in the third quarter. A rally in sterling, meanwhile, could further add to the cost of boosting Kraft's bid. What's more, "we persist in our belief that neither Nestlé nor Hershey will willingly stand by and be marginalized into distant No. 3 and No. 4 positions in global confectionary," London-based analysts at investment bank Jefferies International wrote in a note to clients on Tuesday. A possible joint Nestlé-Hershey bid to break up Cadbury - with Pennsylvania-based Hershey taking...
...Hershey isn't going to disappear. The U.S. might be a slow-growth market, but it's the biggest market in the world," says Mogelonsky. "It might be hard for Hershey to compete globally, but I think Hershey will still remain strong...
Douglas Christopher, an analyst at Crowell, Weedon & Co., even sees advantages in remaining a smaller entity. "The larger the company, the less nimble you are," he says. "It has a great brand and many great products. We think Hershey is well positioned to continue to operate independently...
While a merger or partnership could enhance Hershey's global growth prospects, it's not critical for the company's survival. Hershey still leads chocolate sales in the U.S., with a 40% market share...