Candy World Awaits Hershey Trust’s Move in Takeover Maneuvers
October 1, 2009 | Read Time: 1 minute
The charitable trust set up by the chocolate-maker Hershey has emerged as a key player in the “candy wars” involving some of the world’s biggest sweets purveyors, says The Wall Street Journal.
The Hershey Trust holds a controlling interest in the namesake Pennsylvania company, which is seen as both a potential takeover target and a possible bidder for British chocolate giant Cadbury. Hershey could face pressure to make its interests known as a deadline nears for Kraft Foods to make a bid for Cadbury.
The $7-billion trust’s primary charge is safeguarding the Milton Hershey School, an institution for needy youths established through a bequest by the chocolate firm’s founder. Analysts have not ruled out a Hershey bid for Cadbury but consider it unlikely.
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