(Reuters) – Campbell Soup Co (CPB.N), the world’s largest soup maker, is considering making a 1.5 billion pound ($2.3 billion) break up bid for Britain’s United Biscuits, the Sunday Times reported.
Campbell is looking to buy the biscuit-making operations, which account for about three quarters of the company, and is less interested in the snacks business, the paper reported.
Private equity firms Blackstone Group LP (BX.N) and PAI Partners, which acquired United Biscuits in 2006, are considering selling the company for more than 2 billion pounds, Reuters reported in July. [ID:nLDE66K18C]
Blackstone and PAI are willing to consider separate offers for the biscuits division due to the lack of interest in the entire company, the Sunday Times reported.
Campbell — a maker of Prego pasta sauces, Pepperidge Farm baked goods and V8 juice drinks — was unavailable for comment. (Reporting by Julie Crust; Editing by Jon Loades-Carter) ($1=.6431 Pound)