Cadbury says does not need to do a big deal
LONDON (Reuters) - British confectionery group Cadbury Plc (CBRY.L: Quote, Profile, Research, Stock Buzz) said it doesn't not have to do a big takeover deal despite continuing market talk it is looking at a linkup with U.S. chocolate maker Hershey Co (HSY.N: Quote, Profile, Research, Stock Buzz).
"We don't feel we have to do a deal," Chief Executive Todd Stitzer said on a conference call on Thursday after issuing a trading statement towards the end of its half year.
Some analysts expect Cadbury to do some kind of a deal with Hershey, especially as competition is set to increase in the confectionery world after U.S. privately owned Mars agreed to buy Wrigley (WWY.N: Quote, Profile, Research, Stock Buzz) in a $23 billion deal in April.
(Reporting by David Jones; editing by Sue Thoams)
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