Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Oblomov who wrote (56976)	12/6/2004 3:42:48 PM
From: Elroy Jetson	Read Replies (1) of 74559

Kit Kat was created in 1935, by Rowntree UK, and was first known as Rowntree Chocolate Crisp. Two years later, the name was changed to Kit Kat. Rowntree was later merged with Mackintosh and in 1998 Nestlé purchased Mackintosh. Prior to their purchase by Nestlé, Rowntree/Mackintosh had licensed Kit Kat to Hershey in America, which produces royalties for Nestlé. If Hershey is ever purchased by another company, the right to produce Kit Kats in the U.S. revert to Nestlé. When the Hershey Trust decided to put the company up for sale in 2002 Nestlé execs were ecstatic as Kit Kat would revert to their control for free. After further study they made their own $11.5 billion offer for the Hershey in August 2002, topping offers from Kraft Foods and Cadbury Schweppes until a $12.5 billion offer was made by Wrigley. Nestlé dropped out of the bidding, content to merely regain U.S. rights to Kit Kat for free. The following month the Hershey Trust, under intense public pressure, decided not to sell. nestle.com.my kitkat.co.uk nestle.co.uk .

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