US Candy business giant The Hershey Co and The Perrero Group have have bid for the purchase of Nestle. Nestle which owns brands like Butterfinger, Baby Ruth, Sno-Caps and Laffy Taffy, is worth around $2 billion to $2.5 billion, the insider said.
It is also being said that Ferrero is likely to buy it as is more flexible and willing to increase the price as compared to The Hershey. Within a week or so the final decision will be out, sources said.
Auctions with two companies as front-runners can take longer before a winner is chosen. Private equity firms have also expressed interest, sources said.
Ferrero, Hershey and Nestle have all declined to comment on the matter.