Campbell Soup May Bid for United Biscuits Unit

Campbell Soup Co. (CPB) may make a £1.5 billion ($2.3 billion) bid for the biscuit-making unit of British company United Biscuits.

Campbell is interested in the biscuit business, which makes up around three quarters of the company, and is less keen on United Biscuits' snack unit, Reuters reported, citing a story in the British press.

United Biscuits is owned by private equity firms Blackstone Group LP (BX) and PAI Partners. They are open to bids for the unit given the apparent lack of interest in the overall company.

In July, Reuters reported that the private equity outfits were considering selling United Biscuits for more than £2 billion.