Hershey sale status undecided
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 12 Sep 2002 19:19
Robert Vowler, president and CEO of Hershey Trust is maintaining the trust’s decision to sell the company is not set in stone, although it will continue to seek bids.
The Dauphin County Orphans Court in Pennsylvania issued a temporary freeze on the sale proceedings last week after receiving protests from politicians, community members, employees, and former students of the Milton Hershey School who feared the sale could severely damage the community.
These people are passionate about their community, about their company, about Milton Hershey’s legacy, and those are all great things, said Vowler. Clearly, we expected a strong reaction from the community. We will deal with that as we go through this process, he said. Vowler said the company would only sell once it was convinced it was good for the trust and good for the community.
The Hershey Trust, which holds 77% voting rights and 31% of common stock for the company, has entertained potential bidders including Nestle, Cadbury Schweppes, and Kraft Foods. According to the Wall Street Journal, Nestle and Cadbury have considered a joint purchase of Hershey Foods.
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...