Retail in Asia

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Hershey debacle leaves bitter taste

Hershey’s third failed effort to merge with Cadbury in eight years may leave the United States chocolate maker and the charitable trust that controls it grappling to retain investors and market share.

"You have a major problem with Hershey with regard to globalisation of the marketplace," says Mario Gabelli, the chairman and chief executive of Gamco Investors. "At some point, who wants to own a stock of a company where they can’t get their act together with regard to the voting interest?"

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