Ferrero out of Cadbury race

Jan 25 2010 By nebusiness

Italian confectioner Ferrero ruled itself out of the Cadbury takeover race today after last week’s recommended £11.9bn bid from US food giant Kraft.

Ferrero - famed for its Rocher chocolates and advertisements - had been weighing up its options over the Dairy Milk maker since November amid rumours of a joint approach with US rival Hershey.

But Hershey formally withdrew from the race on Friday, clearing the way for Kraft’s takeover