Hershey Rejects a $23 Billion Bid From Mondelez – InBusiness

Posted on October 7, 2021August 17, 2022 by Curtis Johnson

Hershey Rejects a $23 Billion Bid From Mondelez

Snack foods giant Mondelez (NASDAQ: MDLZ) recently made a $23 billion bid for Hershey (NYSE: HSY), but the offer has been unanimously rejected by the chocolate manufacturer’s board. Mondelez’s offer valued Hershey at $107 per share, a 10% premium to its closing price the day before the bid.