UK confectionery and soft drinks giant Cadbury Schweppes is preparing a bid for US gum group Adams.
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If accepted, the takeover offer, which is reported to be worth US$2bn, could see Cadbury add brands such as Trident and Dentyne chewing gums, and Clorets and Halls Mentho-Lyptus cough sweets to its portfolio.
Such a deal would turn Cadbury into a leading player in the global chewing gum market, and give it a dominant position in the US gum market, in which it has been investing for two years.
Adams, a subsidiary of the world’s largest drugs company Pfizer, became a non-core asset after Pfizer bought Adams’ parent Warner-Lambert for US$84bn two years ago. It is due to be put up for auction during the second half of this year.
Analysts expect the group to attract other bidders.
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By GlobalData
