Snack giant makes bid to buy Hershey Company

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Mondelez makes bid for Hershey: Dow Jones

The same people that make your Oreos and Cadbury Creme Eggs could also start making your Hershey bar.

Mondelez International (ticker: MDLZ), the maker of America's Favorite Cookie, has put out a takeover offer for Hershey Co. (HSY), CNBC reports, citing sources with knowledge of the offer.

Hershey is managed by a trust, and such a takeover would require a special class of stock.

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ARAD, ROMANIA - May 4, 2012: The name Oreo printed on cardboard box. Oreo cookies are produced by Nabisco, a division of Mondelez International. Studio Shot.
Mondelez International Inc. Nabisco Chips Ahoy brand cookies sit on a supermarket shelf in Princeton, Illinois, U.S., on Wednesday, April 1, 2015. The looming merger of Kraft Foods Group Inc. and H.J. Heinz is ratcheting up the pressure on other foodmakers to shape up or seek deals of their own. Photographer: Daniel Acker/Bloomberg via Getty Images
Workers protest after attending a union campaign launch at the Cadbury factory in Bournville, central England, December 15, 2009. The Unite Union and Cadbury workers today launched a campaign to protect their company's independence and fend off a hostile bid by Kraft. Kraft Foods has vowed to maintain discipline in its pursuit of British chocolatier Cadbury, suggesting the U.S. group will resist raising the price of its hostile bid. REUTERS/Darren Staples (BRITAIN - Tags: BUSINESS FOOD)
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UNITED STATES - JULY 03: Kraft Foods Inc.'s Nabisco brand Wheat Thins crackers sit on display in a supermarket in New York, Tuesday, July 3, 2007. Kraft Foods Inc., the world's largest cookie maker, offered 5.3 billion euros ($7.2 billion) for Groupe Danone SA's biscuit unit to become the market leader in France, Italy and Poland. (Photo by Daniel Acker/Bloomberg via Getty Images)
Packages of Kraft Foods Co. Trident gum are arranged for a photograph in San Francisco, California, U.S., on Tuesday, Nov. 1, 2011. Kraft Foods Co. is expected to release third quarter earnings on Nov. 2. Photographer: David Paul Morris/Bloomberg via Getty Images
Kraft Foods Inc. Philadelphia cream cheese sits on display in a supermarket in New York, U.S., on Thursday, Jan. 14, 2010. Hershey Co. authorized a bid for Cadbury Plc to be drawn up after the matter was debated internally, the Financial Times reported. An offer would challenge Kraft Foods Inc.'s 10.9 billion pound ($17.8 billion) bid for the England-based company. Photographer: Daniel Acker/Bloomberg via Getty Images
Honey Maid Graham Crackers by Nabisco
NEW YORK, NY - OCTOBER 18: Toblerone at Exploring Belgium's Countryside hosted by Kobe Desramaults as a part of the Bank of America Dinner Series during the Food Network New York City Wine & Food Festival Presented By FOOD & WINE at Park Lane Hotel on October 18, 2014 in New York City. (Photo by Ilya S. Savenok/Getty Images for NYCWFF)
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The confectioner's stock price jumped more than 15 percent to $113 early Thursday before pulling back. Hershey's market value Thursday morning was $21 billion, while Mondelez's was $69 billion, The Wall Street Journal reports.

SEE MORE: Investing for (Chocolate) Lovers: How to Buy Cocoa Stocks

If the deal gets approved, it would be one of the more noteworthy food industry mergers of the year as the consolidation trend continues. Last year's Kraft Heinz Co. (KHC) merger made for the talk of the industry.

Mondelez said it would keep jobs safe after the merger, in addition to moving its headquarters to Hershey, Pennsylvania, The Wall Street Journal reports. Also, the company would reportedly change its name to the much more recognizable Hershey.

SEE ALSO: Can You Make a Mint Investing With a Sweet Tooth?

There had been rumors of Nestle buying Hershey just this month, though analysts quieted that speculation.

Meanwhile, Mondelez has been the subject of takeover talk itself. 3G Capital had been a suspected potential buyer.

Copyright 2016 U.S. News & World Report

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