Ferrero, Hershey announce interest in takeover of Cadbury

It wasn't so long ago that Kraft was announcing an interest in taking over British firm Cadbury. Now, the American company Hershey and Italian-based Ferrero have stated they would consider buying the firm.

According to the Guardian, initial discussions have already taken place between Ferrero, Hershey and Cadbury in what appears to be an effort to stop Kraft's attempt at a hostile take over of Cadbury. Hershey, best known for its Reese's peanut butter cups and its Hershey's Kisses, say on their website that they are "reviewing its options" concerning Cadbury. They already sell some Cadbury products in the U.S. The offer by Kraft has already been declined and a campaign has started to try and keep Cadbury as a UK-based company. Kraft is considered to be the most likely to takeover Cadbury if a deal goes ahead. The Kraft Food company also has Warren Buffet has an investor. Cadbury has a long history in Britain, having been established more than 180 years ago. It is one of the biggest confectionery makers in the world, second only to Mars-Wrigley. Kraft Foods' bid was for more than $16 billion, an offer which Cadbury say vastly underestimates its value.