Analysts have placed Nestlé as the frontrunner to secure Polish confectioner E. Wedel from Kraft with final bids due by the third week in June.
Hershey and Nestlé are among the final six bidders for Wedel, along with private equity firms Bridgepoint, Advent International and two unnamed companies.
Wedel is said to be valued at €2-300 million. The 150-year-old confectioner is Poland’s oldest chocolate brand and became part of Cadbury in 1999.
The Polish company, as well as Romanian assets, is being sold off by Kraft as part of the takeover agreement of Cadbury. The disposals were imposed by the EU as a condition for the takeover deal.