Reported about 16 hours ago
Hershey Trust Co., which holds about 80% of the voting authority in Hershey Co., has turned down a preliminary takeover bid from Mondelez International, deeming it insufficient. This rejection follows Mondelez's recent offer aimed at merging the two companies, which would form a formidable food entity with nearly $50 billion in sales. Previous attempts by Mondelez to acquire Hershey have also failed, highlighting ongoing challenges in the chocolate industry amid rising cocoa prices and shifting consumer spending patterns.
Source: YAHOO