Italy's Ferrero may bid for Cadbury with Hershey

Italian confectionery company Ferrero is likely to bid for Britain's Cadbury, Reuters reports

Ferrero is known to have met with private equity firms Kohlberg Kravis Roberts (KKR) & Co and Blackstone Group to discuss Cadbury.

It is also known to have held talks with US confectionery Hershey to offset Kraft's £10bn bid.

Ferrero said that it is still evaluating its options regarding Cadbury.