Cadbury owner tries to take over

NOT so long ago, drug companies were desperately trying to merge in order to increase their ability to reduce taxes and costs, but now it seems that chocolate (also seen by some as a drug) is the latest area of proposed joint activity.

This time, Mondelez, said to be the second largest company in this area, has had a bid to take over the iconic Hershey business for €20.4 billion rejected by their board.

Mars, still privately owned by the Mars family and said to be one of the largest private companies in America, is the market leader with sales of €30 billion a year across its global market, would have been dwarfed if this takeover had gone through.

The bulk of the Hershey business is still within the USA, whilst Mondelez with acquisitions such as Cadbury, has a far wider market.