Cadbury Chief Prefers Hershey

Publish Date: 
December 3, 2009

The prospect of a bidding war for Cadbury, the British chocolate-maker, edged closer Monday.  Hershey is understood to have lined up financing for a counterbid and Todd Stitzer, Cadbury’s chief executive, made clear that he would prefer the American chocolate group as a buyer to Kraft, the food group.

Although Cadbury has indicated privately for weeks that Hershey would be its preferred new owner, it is the first time that Mr. Stitzer has said so on the record. He said this weekend: “Both companies were founded by men of principle and vision who created company towns and supported charitable causes.
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