HERSHEY, Pa. (
could go solo in a bid for
New York Post
The trust that controls Hershey, the U.S. chocolate company, is considering making an offer for Cadbury on its own. The trust, which owns 80% of Hershey's voting shares, could meet as early as next week to discuss the matter, the
reports, citing a person with direct knowledge of the discussions.
The trust appears more willing to risk its investment-grade rating in order to finance a solo bid for Cadbury, the
reports. It would have to borrow heavily to finance the bid.
Cadbury, the U.K. confectioner, earlier this month said its board unanimously rejected a takeover offer from
, reiterating that the $16.2 billion offer was "wholly inadequate" and recommended shareholders reject the bid.
Hershey has been linked with Italian chocolate maker
in a possible joint bid for Cadbury. It was reported earlier this week that Ferrero was still mulling a
Bids for Cadbury are due Jan. 19.
-- Reported by Joseph Woelfel in New York.
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