after chocolate merger talks end So much for that much hyped chocolate marriage between Hershey and Cadbury.
Hershey's (HSY) stock crashed 11% Monday evening after Cadbury owner Mondelez (MDLZ) revealed it's no longer pursuing prices at kate spade outlet a deal to acquire the iconic American chocolate maker. In June, Hershey rejected a $107 a share takeover offer from Mondelez. The offer represented a 10% premium to Hershey's closing price at the time. The two companies continued talking, but Mondelez said merger talks are now over. The snack giant said it kate spade bags online determined there's "no actionable path forward" for a combination. Related: A Trump presidency would benefit these businessesThe comments likely reflect reluctance from the kate spade purse look alike Hershey Trust, the powerful shareholder that controls Hershey, to sell the candy giant. The Hershey Trust owns the vast kate spade outlet locations near me majority of Hershey's votes and has been unwilling to sell in the past.
Hershey confirmed to CNNMoney the company has been informed that "Mondelez is no longer pursuing a combination." In an effort to "sweeten" the deal, Mondelez reportedly promised to protect Hershey jobs, move its global chocolate headquarters to Hershey, Pa. and rename the combined company Hershey.
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