Los Angeles, United States of America
FILE PHOTO OF HERSHEY FACTORY SMOKESTACKS IN PENNSYLVANIA.
File photo of the exterior and smokestacks of the Hershey Chocolate Company
in Hershey, Pennsylvania, in June 2002. Swiss food giant Nestle SA is
offering about $11.5 billion to acquire U.S. rival Hershey Foods Corp., USA
Today reported on August 26, 2002. Citing sources familiar with the offer,
the newspaper said Nestle presented a preliminary bid of $82 to $85 a share,
after senior executives toured Hershey factories twice last week and
reviewed the candymaker's financial data. Hershey Foods stock, which traded
at $62.50 per share just before news of a possible sale emerged last month,
closed on Friday at $75.03, up 24 cents, on the New York Stock Exchange.