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Inquiry on Bid for Dreyer’s

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From Bloomberg News

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.

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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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