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News
Hershey rejects Mondelēz bid
1 Jul 2016Hershey has confirmed that it received a preliminary, non-binding indication of interest from Mondelēz International to acquire the company for ~$23 billion, but has rejected it.
Hershey has confirmed that it received a preliminary, non-binding indication of interest from Mondelēz International to acquire the company for $107 a share. This would have valued Hershey at $23 billion.
Hershey said that its board of directors, after receiving input from the company’s management and its outside financial and legal advisors, carefully evaluated the indication of interest. Following this review, the board unanimously rejected the indication of interest and determined that it provided no basis for further discussion between Mondelēz and the company.