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BUSINESS
April 27, 1988 | From Reuters
Nestle SA presented a takeover offer for Rowntree PLC on Tuesday that valued the British confectioner at $3.9 billion and sparked expectations of a bidding war here between Switzerland's top chocolate makers. Rowntree, which also has been eyed by Jacob Suchard AG, called the takeover offer unwelcome. "It is our intention to remain independent," a Rowntree spokeswoman said, but the firm's continued independence appeared less likely as Suchard responded angrily to Nestle's move.
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