Inquiry on Bid for Dreyer’s
Dreyer’s Grand Ice Cream Inc. and Nestle received a second request for information from U.S. antitrust regulators regarding the Swiss food maker’s plan to gain control of Oakland-based Dreyer’s, the nation’s largest ice cream producer.
Nestle, which already owns 23% of Dreyer’s, said the request from the Federal Trade Commission was “normal and expected.” The companies said they aim to complete the transaction by the end of the year.
Under a deal announced in June, Nestle agreed to give Dreyer’s its U.S. ice cream assets in exchange for a 67% stake in the combined business.
Shares of Dreyer’s fell $1.01 to $66.99 on Nasdaq.
Separately, Nestle said it wants to gain the North American licenses for its KitKat and Rolo chocolate brands held by Hershey Foods Corp.
A Nestle spokesman declined to comment on whether the company will bid for all of Hershey.
Shares of the Hershey, Pa.-based company fell $1.54 to $72.37 on the New York Stock Exchange.
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