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Nestle to move on Hershey, report

27-Jan-2010

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Swiss food giant Nestlé is understood to be looking at acquiring US confectioner Hershey, following on the heels of rival Kraft Foods takeover of Cadbury, reports Reuters.

It is reported that Nestlé is hoping market pressures force the Hershey Trust, the charity that controls 80 per cent of voting shares in Hershey, to agree to the deal.

Analysts claim Hershey is more exposed to commodity costs than its rivals because it only makes confectionery and the merger with the Swiss group would serve it well.

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