- The Washington Times - Thursday, June 30, 2016

Mondelez International is reportedly attempting a buyout of chocolate maker Hershey‘s.

The Illinois-based snack and candy maker sent a proposal letter to Hershey, the Wall Street Journal reported Thursday, citing unnamed sources.

Terms of the proposal were unclear, but the deal could be well north of $21 billion, Hershey’s market value as of Thursday morning, according to The Journal.

The Hershey Trust, which commands a supermajority of shareholder votes, previously has been opposed to selling, The Journal reported.

Following the news, both Hershey Company and Mondelez stock have been trading up in value, with Hershey’s stock reportedly reaching a record high.



Copyright © 2019 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide