Chew on this: Hershey vies for Cadbury biz?

NEW YORK It seems that Hershey is hungry for one of its competitors, according to published reports.

Earlier this week, rumors began swirling that confectionary giant Hershey is looking to sink its teeth into Cadbury, just one week after U.K.-based company brushed off Kraft's second bid of $16.7 billion.

The Wall Street Journal reported late Tuesday that Hershey, along with Italian chocolate maker Ferrero, are in talks of submitting a joint bid. Hershey submitted a statement to the London Stock Exchange earlier this week, stating, "at this stage there can be no assurance that any proposal or offer from Hershey will be forthcoming. A further announcement will be made in due course if appropriate."

"Cadbury is an exceptional standalone business," said Roger Carr, chairman of Cadbury, said Nov. 9. "Kraft's offer does not come remotely close to reflecting the true value of our company, and involves the unattractive prospect of the absorption of Cadbury into a low-growth conglomerate business model."