Campbell Soup May Bid For United Biscuit Business

Campbell Soup CPB may make an offer of $2.3 billion to acquire the biscuit-making business of U.K.-based United Biscuit the Sunday Times of London reported. The biscuit business accounts for about 75% of United Biscuit's revenue. The Blackstone Group BX and France-based PAI Partners own United Biscuit. Campbell Soup is the world's largest maker of soup.