Packaged Facts covers the American chocolate market in Chocolate Candy in the U.S., 10th Edition..
June 30 - Mondelez recently approached Hershey about the proposed takeover via letter, people familiar with the matter told The Wall Street Journal.
The same concerns surrounding the rumored Nestle takeover apply here: Mondelez will need to secure approval for the takeover from the charitable Hershey Trust foundation, which controls 81% of the company’s voting power. The trust can block any unwanted buyer and has opposed past attempts to sell the company.
It’s unclear whether Mondelez is a more appealing buyer to Hershey than Nestle. Earning the Trust’s approval could turn into a hurdle Mondelez will need to overcome by incrementally sweetening its deal, as was seen in other recent takeover bids, such as Anheuser-Busch InBev and SABMiller, or even failed takeover attempts, like McCormick and the UK’s Premier Foods.
Read more at: http://www.fooddive.com/news/breaking-mondelez-bids-to-take-over-hershey/421889/.
