Mondelez Abandons Hershey Talks Two Months After Bid Snubbed

August 29, 2016 8:53 PM

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Mondelez International Inc. is walking away from takeover discussions with Hershey Co. two months after its $23 billion bid was rejected by the chocolate maker.

Seeing “no actionable path forward toward an agreement,” Mondelez has ended talks over a merger, according to a statement on Monday. Hershey’s board had said on June 30 that it unanimously rejected Mondelez’s $107-a-share bid. Mondelez later boosted its offer to $115 a share before abandoning discus...

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