Cadbury Bids For Japanese Candy Maker

Cadbury will purchase at least 67 percent of the company; possibility of full takeover.

TOKYO – Cadbury Schweppes Plc announced Monday that it is making an offer for Sansei Foods Co, Ltd.

Sansei sells sugar-free functional candy in Japan under the Teicalo and Xylicrystal brands. In 2006, it held a 4 percent share of the Japanese candy market.

Cadbury plans to purchase at least 66.67 percent of the company for $74.32 million, but might purchase all of Sansei for $111.55 million.

The offer is expected to close on July 19, 2007.

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