Mondelez says it’s ending talks to buy Hershey
NEW YORK — Oreo cookie maker Mondelez says it has ended discussions of a possible merger with The Hershey Co, a combination that would have created a global powerhouse selling some of the world's best known chocolates and snacks.
Hershey had said in June that it rejected the takeover bid from Mondelez International Inc. in a deal valued at roughly $22.3 billion, according to FactSet. The Pennsylvania-based chocolate and candy company did not immediately respond to a request for comment Monday.
In a statement, Mondelez CEO Irene Rosenfeld said the company decided "there is no actionable path forward toward an agreement" following additional discussions.
Mondelez makes Nabisco cookies, Cadbury chocolate and Trident gum.
Hershey shares slid 11 percent in after-hours trading, to $99.
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