Race To Acquire Nestlé's US Confectionery Business Continues
The battle for Nestlé's US confectionery business is ongoing, with a number of companies said to have made bids for the candy unit in recent days.
CNBC first reported that both US chocolate company Hershey and Italy's Ferrero had submitted their final bids on Friday.
The two companies have been linked to a potential purchase since the sale of the business, valued at around $2.5 billion, was first announced last summer.
Meanwhile, the Financial Times reports that US-based private-equity group Rhône Capital has also joined the race, but added that sources close to the matter expect Ferrero to be the likely winner.
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