Swiss food giant Nestle SA has decided...

Swiss food giant Nestle SA has decided against increasing its 2.1-billion pound ($3.7-billion) offer to buy British candy maker Rowntree PLC despite a higher counter bid. Nestle said it was extending its offer for Rowntree to July 4. Swiss candy maker Jacobs Suchard AG has bid 2.31 billion pounds ($4.2 billion) for Rowntree, which makes such internationally known candies as Kit-Kat bars. Rowntree shares have been trading well above the price either Nestle or Suchard offered. Industry analysts believe that Rowntree, Nestle and Suchard have been trying to forge a deal that would satisfy all three companies. Suchard has bought 29.9% of Rowntree, while Nestle owns 16%.