Ferrero denies receiving offer from Nestlé




Ferrero, the family-owned Italian confectioner that makes Nutella chocolate spread and other products, denied that it is for sale,

Reuters reported.

The Italian daily

La Repubblica

had reported that Nestlé had submitted an offer for the company.

Ferrero, founded in 1946, is run by patriarch Michele Ferrero, 88. Sources told Reuters that the company is cash-rich and not in need of financing. The Reuters report noted that investment bankers consider Ferrero to be one of Italy’s most valuable companies. (Source: Reuters, Oct. 17, 2013.)

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