Friday, July 1, 2016

Sweet Opportunity to Grab Hershey

The Hershey Co. (NYSE-HSY) appears to be too sweet to resist for Mondolez (NASDAQ-MDLZ), owner of Oreo, Nabisco and Cadbury brands.  On Thursday, Mondolez sent a tasty offer to Hershey that valued the company at a 10% premium over its market price.  Hershey's board turned the offer down with a thump, noting in the press release that it "provided no basis for further discussion."  But Hershey's stock price spiked above the per share offer price, which may indicate that investors think sweeter bids are on the way, either from Mondolez, or another snack food suitor.

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