- Hershey (NYSE:HSY) says it has rejected the takeover bid from Mondelez (MDLZ), with a unanimous vote.
- The company said it got a nonbinding indication of interest for a cash-and-stock deal totaling $107/share of Hershey common stock, along with nonmonetary considerations.
- Hershey says it carefully reviewed the indication of interest, the board uninamously rejected it, and that it determined it provided "no basis for further discussion between Mondelez and the company."
- Shares of Hershey still halted. MDLZ is up 4.2%.
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Updated 2:37 p.m.: Hershey has resumed trading, down slightly from its all-time high of $117.79 set earlier but still up 13.5% on the day.
- Previously: Hershey rises 19% on report of blockbuster buyout offer from Mondelez (Jun. 30 2016)
- Previously: Hershey jumps 7.6% on report of takeout bid by Mondelez (Jun. 30 2016)