NESTLE – BREYERS
April 1st, 2003
BY PHILIP FINE
NESTLE SA is offering to sweeten its bid for a US$2.8 billion (GBPounds1.79 billion) buy-out of Dreyer's Grand Ice Cream. The US Federal trade Commission is trying to block the plan that would give Nestle a 67 per cent stake in Dreyer's, up from the current 23 per cent. The deal would give the merged group an approximate 60 per cent share of the US super-premium ice-cream market. The company has offered to divest its Starbucks ice cream, and limit its distribution network to secure regulatory approval.
ENDS
NESTLE SA is offering to sweeten its bid for a US$2.8 billion (GBPounds1.79 billion) buy-out of Dreyer's Grand Ice Cream. The US Federal trade Commission is trying to block the plan that would give Nestle a 67 per cent stake in Dreyer's, up from the current 23 per cent. The deal would give the merged group an approximate 60 per cent share of the US super-premium ice-cream market. The company has offered to divest its Starbucks ice cream, and limit its distribution network to secure regulatory approval.
ENDS
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