Mondelez Makes a Bid to Buy Hershey Co.
According to The Wall Street Journal, Mondelez International Inc. made a bid to buy chocolate giant Hershey Co. in what would be a blockbuster deal uniting two of the world’s best-known candy makers.
Mondelez, which makes Oreo cookies and Cadbury chocolate bars, recently sent a letter to Hershey proposing the tie-up, according to people familiar with the matter. Terms couldn’t be learned, but Hershey had a $21 billion market value Thursday morning, meaning a deal could value the maker of eponymous Kisses and chocolate bars at well over that. Mondelez had a $69 billion market value.
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Mondelez, which makes Oreo cookies and Cadbury chocolate bars, recently sent a letter to Hershey proposing the tie-up, according to people familiar with the matter. Terms couldn’t be learned, but Hershey had a $21 billion market value Thursday morning, meaning a deal could value the maker of eponymous Kisses and chocolate bars at well over that. Mondelez had a $69 billion market value.
Click here to read the full article.