Jun
30
Mondelez Reportedly Wants to Buy Hershey
Posted in: Uncategorized
Mondelez International Inc. is reportedly eager to buy Hershey Co., a deal that has the potential to increase the Oreo maker’s focus on confections and give Hershey the infrastructure it needs to expand internationally.
Mondelez’s bid for Hershey, reported Thursday by the Wall Street Journal, sent shares of Hershey soaring more than 20%. Mondelez declined to comment and Hershey did not immediately comment on the report.
Any takeover of Hershey would need a nod of approval from the Hershey Trust, which is its largest shareholder with more than 8% of the stock and major voting rights.
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