Chocolate giant Hershey’s has rejected a takeover bid by Mondelez, the owner of brands such as Cadbury, Oreo, Milka and Toblerone.
“From a geographic perspective, the move makes sense. Mondelez has achieved its position as the second-largest confectionery manufacturer in the world without any sizeable presence in the US.”
Jack Skelly, analyst at Euromonitor, speaking to Bloomberg
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