Board unable to make decision, yet to arrange financing for offer

NEW YORK: Hershey Co's executives and board members are divided on whether to make a bid for Cadbury Plc and have yet to arrange financing for an offer, according to people with knowledge of the matter.

The board met on Jan 4 without reaching a decision, said the people, who declined to be identified because the talks are private. Some members of Hershey's controlling trust, led by former Pennsylvania Attorney General LeRoy Zimmerman, have been advocating a deal, while Chief Executive Officer David West is among those concerned about the debt a purchase would entail, the people said.