Hershey Rejects Interest From Mondelez Company
The Hershey Company has received a preliminary, non-binding indication of interest from Mondelez International to acquire the Company for a mix of cash and stock consideration, totaling $107 a share of Hershey common stock. The indication of interest also included other non-monetary considerations.
Following review, the Board of Directors of the Company unanimously rejected the indication of interest and determined that it provided no basis for further discussion between Mondelez and the Company.
The Hershey Company, headquartered in Hershey, Pa., is a global confectionery with approximately 21,000 employees and more than 80 brands around the world that drive more than $7.4 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Hershey's Kisses, Jolly Rancher, Ice Breakers and Brookside. Building on its core business, Hershey is expanding its portfolio to include a broader range of snacks.
Following review, the Board of Directors of the Company unanimously rejected the indication of interest and determined that it provided no basis for further discussion between Mondelez and the Company.
The Hershey Company, headquartered in Hershey, Pa., is a global confectionery with approximately 21,000 employees and more than 80 brands around the world that drive more than $7.4 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Hershey's Kisses, Jolly Rancher, Ice Breakers and Brookside. Building on its core business, Hershey is expanding its portfolio to include a broader range of snacks.