USA: Cadbury and Nestlé work on plans to carve up Hershey; Cadbury shares dip
Despite ongoing opposition to the sale of Hershey, potential buyers Cadbury Schweppes and Nestlé appear to be working hard to finalise a joint bid for the US chocolate group. While a Pennsylvania appellate court prepares to hear arguments from both the trust that controls Hershey, and the attorney general who is opposing its sale, the frontrunners to buy Hershey continue to discuss how to proceed. According to sources close to the situation, the companies are concentrating on working out a deal that would allow Cadbury to buy some brands from Nestlé without incurring a hefty tax bill.
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