Italian chocolate tycoon Pietro Ferrero, joint chief executive of the Ferrero group which owns Nutella and Ferrero Rocher, has died in an accident in South Africa, a spokesman for the group said on Monday.Ferrero, who was 47, was in South Africa "on a business trip," the spokesman said, without giving any further details about the type of accident.Ferrero ran the secretive sweets group along with his brother Giovanni.Their 85-year-old father Michele, Italy's richest man, turned the company into a global leader of the confectionery industry.
MILAN (Reuters) - Italian chocolate maker Ferrero could be interested in Cadbury's gum and candy division, a unit worth about 5 billion euros ($7.4 billion), in a possible joint takeover bid, business daily Il Sole 24 Ore said on Friday.
One of Britain's most revered companies is under threat of a takeover. Candy maker Cadbury already rejected a hostile takeover bid by U.S. giant Kraft Foods. Hershey has confirmed it is considering a joint takeover bid for Cadbury, along with Italian chocolate maker Ferrero. But it seems the offers may need to be considerably sweetened to persuade the British.
Hershey, hoping to expand its overseas presence, has lined up a potential partner, Italian candymaker Ferrero International SA, in a possible bidding war for British candy maker Cadbury PLC. The combination could have the financial firepower to top a $16.4 billion hostile bid by Kraft Foods Inc.» E-Mail This » Add to Del.icio.us
Hershey, hoping to expand its overseas presence, has lined up a potential partner as the most recognizable name in American chocolate considers starting a bidding war for British candy maker Cadbury PLC.