Hershey Shares Jump 10% As Mondelez Eyes Hershey Merger In $50 Billion Snack Deal

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.