Ferrero and Hershey eye up Cadbury

ITALIAN confectionary firm Ferrero and US-based Hershey are in talks over a potential joint bid for Cadbury, threatening to derail Kraft&rsquo;s &pound;9.8bn hostile bid for the UK confectioner. <br /><br />A source familiar with the talks said that the discussions are &ldquo;very early in the process&rdquo;. But the news is the clearest sign yet that there could be a white knight to fend off Kraft.<br /><br />It is understood that Nutella maker Ferrero has enlisted NM Rothschild and Mediobanca to advise on any bid.<br /><br />Hershey has been more aggressive about pursuing a joint bid than Ferrero, but financial details have not been discussed, according to the Wall Street Journal.