Mondelez

Hershey’s Main Owner Rejects Mondelēz’s Offer As Too Low – Bloomberg

Hershey’s main controlling owner has rejected Mondelēz International’s takeover offer, saying it was too low, Bloomberg News has reported.

Mondelēz International is exploring the acquisition of chocolate-maker Hershey, Bloomberg News reported on Monday.

Brands have investigated suppliers after reports that palm oil from an illegally cleared area may have ended up in their supply chains.

Mondelēz International announced its Cadbury sharing bars in the UK and Ireland will be wrapped in 80% certified recycled plastic packaging.

Mondelēz International beat third-quarter revenue and profit estimates on Tuesday on a rebound in demand and higher prices.

Shares at Kellanova surged 18% in early trading on Monday after a Reuters report said Mars was exploring a potential buyout of the company.

Kellanova raised its annual organic sales and profit forecasts on Thursday as consumers opted for its products despite higher prices.

Hershey cut its annual profit forecast on Thursday and posted a near 17% drop in quarterly sales, highlighting cautious consumer spending.

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