Thursday, June 30, 2016
Candy Company Makes Bid to Buy Hershey
Mondelez is the company that also owns Oreo and Cadbury.
When the announcement was made Thursday morning, Hershey's stock reportedly grew 20% with rumors of the "Blockbuster Deal".
The bid would have be approved by the Hershey Trust which owns 81 percent of the Hershey Company.
Hershey is reportedly worth $21 Billion with Mondelez being worth over $60 Billion.
UPDATE (2:30PM) - The Hershey Company has announced that the board has unanimously rejected a takeover offer and that it provided "no basis for further discussion."
Story from Pennlive.com