LONDON (AP) - Chocolate makers The Hershey Co. and Ferrero International SA say they are considering a possible offer for Cadbury PLC, which is already the target of a hostile bid by Kraft Foods Inc.
In a statement that CBS 21 News obtained, The Hershey Company says, " Hershey confirms that it is reviewing its options and at this stage there can be no assurance that any proposal or offer from Hershey will be forthcoming. A further announcement will be made in due course if appropriate."
Ferrero, based in Italy, posted a similar statement. Shares in Cadbury, based in Britain, were up 1.4 percent at 799 pence as speculation grew that a rival might emerge for Kraft's attempt to take over the British company.
Cadbury has said Kraft's bid, worth $16.4 billion, significantly underestimates Cadbury's worth.
