News

Hershey rejects takeover offer from Mondelez, maker of Oreos, Cadbury

Written by Ben Allen and The Associated Press | Jun 30, 2016 3:11 PM
hershey-10-east-office-600x340.jpg

Photo by Jeremy Long, Lebanon Daily News

The Hershey Company officially opened up its 19 East office building in downtown Hershey on Thursday. The site was Milton Hershey's original chocolate factory.

(New York) -- The Hershey Trust has unanimously rejected a takeover offer from the snack and candy company Mondelez International. 

The Wall Street Journal, citing sources it did not name, reports Mondelez recently sent a letter to Hershey proposing the deal worth an estimated $23 billion.

But in a quick response from the Hershey Trust, which controls the Hershey Company, it says it sees no basis for future discussions.

A takeover would bring together two of the world's largest snack and candy makers.

Mondelez said it would locate the headquarters of the combined company in Hershey and take on the Hershey name. 

Mondelez International Inc., based in Deerfield, Illinois, also owns Cadbury chocolates, Nabisco cookies and Ritz crackers.

The company split from Kraft Foods in 2012.  

The Hershey Company's stock was up 18 percent at $114.63.

In the fall of 2002, the Hershey Trust turned down a $12.5 billion offer from Wrigley.

Published in News

Tagged under , , , , , , , ,

back to top

Give Now

Estate Planning

Support for WITF is provided by:

Become a WITF sponsor today »

Smart Talk

National Edward R. Murrow Awards

DuPont Columbia Awards

Support Local Journalism

Latest News from NPR

Support for WITF is provided by:

Become a WITF sponsor today »