10:40 AM EST, 12/11/2024 (MT Newswires) -- Hershey Trust, which holds about 80% of the voting power at Hershey (HSY), rejected a preliminary takeover offer from Mondelez International ( MDLZ ) because the bid was too low, Bloomberg reported Wednesday, citing people familiar with the matter.

Hershey and Mondelez ( MDLZ ) did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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