Reported about 12 hours ago
Mondelez International has authorized a stock repurchase of up to $9 billion following a setback in its pursuit of acquiring Hershey, as its initial offer was deemed too low. The buyback program, effective from January 1, 2025, will replace an existing $6 billion authorization and signals a shift in Mondelez's acquisition strategy towards smaller deals. Analysts interpret this move as diminishing the likelihood of a Hershey acquisition, although some believe it could still be a future prospect.
Source: YAHOO