Hershey Shares Climb on Mondelez's Reported Acquisition Interest

By Dean Seal

Shares of Hershey jumped following a report that Mondelez International is exploring an acquisition of the chocolate maker.

The stock was up 14% at $199.62 in early trading. Shares are now in positive territory year-to-date.

Citing unnamed sources, Bloomberg reported Monday morning that Mondelez has approached Hershey about a potential tie-up.

Such a combination would create a food-making behemoth with almost $50 billion in sales, according to the report.

Mondelez previously sought a deal with Hershey but walked away in 2016 when the chocolate giant rejected its $23 billion bid.

Write to Dean Seal at [e-mail]

(END) Dow Jones Newswires

12-09-24 1050ET