Hershey shares surged over 10% following reports of Mondelez International's potential buyout approach. A merger could create a $50 billion snack food titan, uniting iconic brands like Hershey's Kisses, Reese's, Oreo, Cadbury, and Toblerone. Both firms declined to comment, and the deal remains in preliminary stages. The packaged food sector, impacted by slowing growth and inflation, has seen increased consolidation. Hershey's CFO cited rising cocoa costs as a significant challenge, prompting firms to seek growth through strategic mergers.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Hershey shares surged over 10% following reports of Mandela's International's potential buyout
00:07approach. A merger could create a $50 billion snack food titan, uniting iconic brands like
00:12Hershey's Kisses, Reese's, Oreo, Cadbury, and Toblerone. Both firms declined to comment,
00:18and the deal remains in the preliminary stages. The packaged food sector, impacted by slowing
00:22growth and inflation, has seen increasing consolidation. Hershey's CFO cited rising
00:27cocoa costs as a significant challenge, prompting firms to seek growth through strategic mergers.