british candy

The Hershey Co. on Friday conceded the race to acquire British candy maker Cadbury, opting for a slower road to international expansion but also possibly a tougher battle for shelf space in grocery stores.

British candy company Cadbury agreed to a fattened $19.5 billion takeover offer from U.S. food group Kraft in a deal that would create the world's biggest chocolate maker.

Hershey, after months of internal debate, is now considering a bid for the British candy maker Cadbury , a move that would challenge Kraft 's existing $16.7 billion hostile offer for the company, according to people briefed on the matter.

A deadline loomed Monday for Kraft Foods Inc. to make a formal offer for British candy maker Cadbury PLC or walk away for six months.

Kraft Foods has six weeks to make a binding offer to buy British candy maker Cadbury or else walk away for at least six months, Britain's mergers and acquisitions regulator said Wednesday.

Kraft Foods Inc. is poised to launch a hostile bid for British candy maker Cadbury PLC, The Observer said Sunday, citing unnamed sources.

British candy maker Cadbury PLC is awaiting a sweeter offer than Kraft Foods Inc.'s $16.7 billion stock-and-cash proposal.

But it is unclear if Kraft or any other potential suitors will put more cash on the line, which could prove key to a deal.

Shares of food makers were mixed in Tuesday trading after Kraft announced a bid to buy British candy and drink maker Cadbury PLC for $16.7 billion in stock and cash.