Mondelez makes takeover bid for Hershey: source

June 30, 2016 3:39 PM

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Mondelez makes takeover bid for Hershey: source

Mondelez International Inc (MDLZ.O), the maker of Oreo cookies and Cadbury chocolates, has made a takeover bid for chocolate and sugar confectionery company Hershey Co (HSY.N), a person familiar with the matter said on Thursday.

Hershey shares jumped 21 percent, touching a record high of $117.79 and giving the company a market capitalization of about $25 billion. The Wall Street Journal first reported on the bid.

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