The charitable trust that controls Hershey Co
That would be bigger and have more cash than the offer Kraft Foods Inc
A bid, if one emerges, would not be ready for at least two weeks and the terms of a possible offer are in flux, the paper said. One possible scenario, the paper said, would include at least $10 billion in cash from Hershey, plus $2 billion in new Hershey shares.
A third component would be another $3 billion to $5 billion in cash from rich investors in exchange for equity in Hershey, the paper said, citing those people.
The investors are being courted by Hershey adviser Byron Trott, a former Goldman Sachs banker known for his close relationships with Warren Buffett and other rich investors, the paper said.
(Reporting by Megan Davies; Editing by Tim Dobbyn)