Mondelez International , the maker of Oreo cookies and Cadbury chocolates, said it was no longer pursuing the acquisition of Hershey , two months after the US chocolate company turned down its $23 billion cash-and-stock bid.
Hershey Company has rejected a $23 billion takeover bid by Mondelez International that would seek to expand the latter's limited US footprint and create the world's largest confectioner.
The snub unders
Mondelez International Inc, the maker of Oreo cookies and Cadbury chocolates, has made a takeover bid for chocolate and sugar confectionery company Hershey Company, a person familiar with the matter said on Thursday.
A merger of t
Hershey plans to buy the remaining 49 per cent in its Indian joint venture that it does not own, giving it full control of a chocolate business in one of the world's biggest markets.
Financial terms of the deal were not disclosed. B
The Hershey Company has announced plans to open its first Middle East Hershey's Chocolate World store in Dubai at the world's largest shopping and entertainment destination in the world, The Dubai Mall.
Hershey, known as 'The Chocola