By Minda Smiley

Mondelez International has made a bid to buy Hershey, a move that would bring together two of the world’s largest snack and candy manufacturers.

People familiar with the matter told the Wall Street Journal that Mondelez recently sent a letter to Hershey proposing the acquisition. Hershey’s stock surged following the news.

Hershey, maker of iconic candies including Reese’s, Jolly Rancher and its own chocolate bars, is currently valued at $23bn, while Mondelez is valued at $70bn.

According to the Wall Street Journal, Mondelez – whose brands include Cadbury, Oreo, and Ritz – has pledged to protect jobs if a merger goes Read full story ›

Source: The Drum