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Mondelez makes $23 billion takeover bid for Hershey

Staff writer |
Mondelez International has made a roughly $23 billion bid for chocolate giant Hershey in what would be a blockbuster deal uniting two of the world’s best-known candy makers.

Mondelez, which makes Oreo cookies and Cadbury chocolate bars, recently sent a letter to Hershey proposing the tie-up at $107 a share, according to people familiar with the matter. The bid is 50% cash and 50% stock, they said, The Wll Street Journal reports.

The maker of eponymous Kisses and chocolate bars had a $21 billion market value Thursday ahead of the report. Mondelez had a $69 billion market value.

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