“Sure you can, junior,” B of A and JP Morgan said to Hershey. “Just remember we’re not made of money.”
The Business Standard reports Hershey is wants to borrow the money to buy Cadbury, the British hatchery of those delightful Easter basket treats, for 10.3 billion pounds — that’s 195 bazillion in U.S. dollars.
Kraft is also going after Cadbury, and Augustus Gloop (who has changed his name to distance himself from that embarrassing incident in which he fell into Wonka’s chocolate river as a boy) is being coy about which suitor he’ll let romance him:
Attributing to Cadbury Chief Executive Todd Stitzer, the report said, Stitzer has indicated support for a possible tie-up with Hershey, rather than Kraft.
“I would prefer Cadbury to be in an environment where its values and principles could continue,” the report said citing Stitzer.
If the company’s “values and principles” are giving you tummy aches with delicious food, either company is entirely capable.
JP Morgan, BofA gear up to fund Hershey’s Cadbury bid [Business Standard]