Hershey said on Friday that it has the resources to launch a bid for Cadbury

Hershey said on Friday that it has the resources to launch a bid for Cadbury, according to a report by the Wall Street Journal.

According to the Journal, sources say there is a 75 to 80 percent chance the bid will likely be made next week, and the price will be between at least 800 pence and 820 pence a share. Hershey [HSY  36.25  -0.71  (-1.92%)   ] CEO David West has “accepted such a bid will happen,” according to one of the sources.

The news comes as Kraft Foods [KFT  29.58  0.46  (+1.58%)   ] nears a deadline to make its final bid for the confectioner [CBY  51.90  0.06  (+0.12%)   ].


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