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HERSHEY FOODS ANNOUNCES BID TO ACQUIRE FREIA MARABOU a.s

 HERSHEY FOODS ANNOUNCES BID TO ACQUIRE FREIA MARABOU a.s
 HERSHEY, Pa., Sept. 28 /PRNewswire/ -- Hershey Foods Corporation (NYSE: HSY) confirmed today that it made an unconditional offer to Norsk Hydro a.s to acquire its 44.1 percent share interest in Freia Marabou a.s, the leading Scandinavian chocolate, confectionery and snack food company, and upon acceptance, would extend the offer to all other shareholders.
 The offer price for Norsk Hydro's shares was in excess of 400 Norwegian Kroner (NOK) for each Class A and Class B share of Freia Marabou.
 Hershey has been informed by Norsk Hydro that the offer was rejected in favor of an offer of 450 NOK made by Kraft General Foods, a subsidiary of Philip Morris (NYSE: MO).
 Hershey currently owns an 18.6 percent interest in Freia Marabou which it acquired in May 1992, and is currently reviewing its options.
 /delval/
 -0- 9/28/92
 /CONTACT: Natalie Bailey, 717-534-7631, or James A. Edris (financial), 717-534-7552, both of Hershey Foods/
 (HSY MO) CO: Hershey Foods Corporation; Norsk Hydro a.s.; Freia Marabou a.s.;
 Kraft General Foods; Philip Morris ST: Pennsylvania IN: FOD SU: TNM


LJ -- PH020 -- 3979 09/28/92 12:54 EDT
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Publication:PR Newswire
Date:Sep 28, 1992
Words:200
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