Huge Ferrero-Nestle business on the horizon

Italian chocolate maker Ferrero is nearing a deal to acquire Nestle’s U.S. confectionery business for about 2.8 billion USD – origo wrote.

According to an informant of Bloomberg, the agreement could be signed as early as Sunday. The business, which includes the Butterfinger and Baby Ruth brands, is suffering a decline in revenue and had sales of about 900 million USD in 2016. (origo)