Hershey set to enter Cadbury takeover battle

Hershey is set to challenge US rival Kraft in the battle for Dairy Milk maker Cadbury, according to reports today.

The maker of the iconic Hershey bar could launch a formal offer for Cadbury by January 23, the Financial Times said.

The chief executive of Oreos-to-Dairylea food giant Kraft is currently in London attempting to win support for its own bid, which currently values Cadbury at £10.5bn (€11.8bn).

Hershey, which already has a relationship with Cadbury making Dairy Milk bars and Creme Eggs under licence in the US, was unavailable for comment.

A Cadbury spokesperson said: “As we have consistently said, we are focused on delivering value to our shareholders and unless and until we have a credible offer that adequately reflects the strength of this business, there is nothing to comment upon.”