Hershey Company Unanimously Rejects Indication of Interest from Mondelēz Company

The Hershey Company confirmed that it had received a preliminary, non-binding indication of interest from Mondelēz International to acquire the Company for a mix of cash and stock consideration, totaling $107 a share of Hershey common stock. The indication of interest also included other non-monetary considerations.

The Company’s Board of Directors, after receiving input from the Company’s management and its outside financial and legal advisors, carefully evaluated the indication of interest. Following this review, the Board of Directors of the Company unanimously rejected the indication of interest and determined that it provided no basis for further discussion between Mondelēz and the Company, company officials say. 

The Company’s Board of Directors and management team are committed to enhancing value for all stockholders in accordance with the Company’s strategic plan, according to company officials.