11:44 AM EST, 12/09/2024 (MT Newswires) -- (Updates with stock price movement in the second paragraph.)

Mondelez International ( MDLZ ) is exploring an acquisition of Hershey (HSY) that would create a company with combined sales of nearly $50 billion, Bloomberg reported Monday, citing unnamed people familiar with the matter.

Hershey's shares were up nearly 13% while Mondelez's ( MDLZ ) were down 2.7% in recent trading.

Mondelez ( MDLZ ) has made a preliminary approach about a deal, Bloomberg reported, citing people familiar with the matter.

Mondelez ( MDLZ ) and Hershey did not immediately reply 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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