Hershey subject to takeover bid from Mondelez - WSJ

Snack food company Mondelez International has made an attempt to take over Hershey, according to a report from the Wall Street Journal.

Shares in the US chocolate producer have surged by more than 21% to $117.79. On Thursday morning, Hershey had a market value of $21 billion, versus Mondelez's value of $69 billion. In 2002, Hershey attempted to look at the possible sale of the company, and it received interest from various parties, including Mondelez's predecessor company Kraft Foods. However, in the end the sale did not go through.

According to The Wall Street Journal, Mondelez has pledged to protect jobs following any deal and to locate its global chocolate headquarters in Hershey, Pennsylvania, and rename the company Hershey. The report cited a person familiar with the matter.

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