Milk Chocolate Fudge

Line bottom of an 8-inch square baking pan with parchment paper or wax paper. Heat all ingredients in a metal bowl set over a pan of barely simmering water, stirring occasionally, until smooth. Pour into baking pan and chill, uncovered, until firm, about 4 hours. Run a knife around edges of pan and invert fudge onto a work surface. Remove parchment and cut fudge into 1-inch squares. Serve chilled.