Mondelez Reportedly Eyes Hershey Takeover – Again
Mondelez International, the company behind Cadbury chocolates, is reportedly considering a takeover of iconic chocolate maker Hershey. According to Bloomberg News, the potential deal would create a food powerhouse with nearly $50 billion in sales.
According to people familiar with the matter who asked not to be identified, the Chicago-based Ritz crackers and Oreo cookies maker made a “preliminary approach about a possible combination” of Pennsylvania-based Hershey. They said deliberations are in the early stages.
Hershey rejected a $23 billion takeover bid from Mondelez in 2016 at least partly after the Hershey Trust, the charitable trust that holds 80% of the voting shares of Hershey, was against a transaction.
Bloomberg added that Mondelez has shown interest in expanding its chocolate and snack businesses, with analysts citing its financial capacity for mergers. A potential deal would surpass Mars Inc.’s recent $36 billion acquisition of Kellanova, making it one of the year’s largest.