Deals
Mondelez Abandons Hershey Talks Two Months After Bid Snubbed
- Hershey Trust seen as obstacle to takeover of chocolate maker
- Mondelez says it saw ‘no actionable path forward’ toward deal
Mondelez Walks Away From Takeover Talks With Hershey
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Mondelez International Inc. is walking away from takeover discussions with Hershey Co. two months after its $23 billion bid was rejected by the chocolate maker.
Seeing “no actionable path forward toward an agreement,” Mondelez has ended talks over a merger, according to a statement from the Oreo maker on Monday. Hershey’s board had said on June 30 that it unanimously rejected Mondelez’s $107-a-share bid. Mondelez later boosted its offer to $115 a share before abandoning discussions, according to a person familiar with the situation.