What a Mondelez takeover of Hershey’s could have looked like
The Hershey’s Company has rejected an acquisition bid from Mondelez International, the owner of Cadbury chocolate.
The bid, rejected late last week, was for a mix of stock and cash consideration, totalling a US $107 a share of Hershey’s common stock plus other non-monetary considerations.
Hershey’s Board of Directors said they carefully evaluated the offer but unanimously decided to reject the bid.
“The Company’s Board of Directors, after receiving input from the Company’s management and its outside financial and legal advisors, carefully evaluated the indication of interest,” Hershey’s said in a statement.
“Following this review, the Board of Directors of the Company unanimously rejected the indication of interest and determined that it provided no basis for further discussion between Mondelez and the Company.”
Editorial analysis: Takeover may have boosted Mondelez’s US presence
Mondelez is the world’s second largest chocolate manufacturer, yet Cadbury has never really taken off in the US.
Currently, Hershey’s restricts the ability for Cadbury to import its products from the UK into the US. Although Hershey’s itself has had the rights to manufacturer and sell Cadbury chocolate in the US since 1988, it stops the original UK Cadbury chocolate from entering the US. Over the years, groups of consumers have complained US Cadbury chocolate is not as good as UK Cadbury chocolate, a possible reason the brand has not taken off in the US.
What a Mondelez takeover of Hershey’s would look like
Image courtesy of Euromonitor International
Hershey’s is currently imported into Australia by Hollier Dicksons, which is also a distributor of numerous brands including Red Bull energy drink, Hillier’s chocolates and Go Natural snacks and bars.
Messages around nutrition can be overwhelming, so overwhelming in fact that many consumers are left ...
Food and beverage producers will soon be required under American law to declare if any genetically m...
World of Business Ideas (WOBI) is promoting its November 2019 event for family owned businesses. Th...
The A2 Milk Company and Synlait Milk have entered into a new five-year arrangement for the supply of...
Unilever has announced plans to sell or demerge its spreads division which includes Flora, Bertolli,...
A leadership change has been announced for New Zealand dairy giant, Fonterra.
Despite operating in Australia for less than a decade, Costco is already making its presence known a...
Oprah Winfrey is making her first foray into supermarket foods with help from Kraft Heinz.