Saturday June 6, 2020

Hershey rejects $23 billion takeover offer

Rival Mondelez looking to boost its US presence

1st July, 2016
Some candy talking but no deal Pic: Getty

US confectionery giant Hershey has snubbed a preliminary takeover offer from

Mondelez International for $107 a share in cash and shares, turning down a deal that would have created the world’s largest candy company.

The offer, which would have valued the company at about $23 billion, was rejected unanimously, according to a statement last night. Hershey’s stock pared its earlier gains after the company released the...

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