Irene B. Rosenfeld

No sweet dreams: Oreo-maker Mondelez ends bid for Hershey

No sweet dreams: Oreo-maker Mondelez ends bid for Hershey

Mondelez International, maker of Oreo and Cadbury, officially halted its quest to form the world's largest confectionary maker, announcing Monday that it's ended conversations to acquire chocolate giant Hershey.

The announcement broke a prolonged silence on the possible deal after Deerfield-based Mondelez's offer of $26 billion was quickly rejected by Hershey in late June. From the get-go, the possible merger appeared saddled with obstacles, including Pennsylvania-based Hershey's unique governance structure that gives the Hershey School Trust board more than 80 percent of the company's voting power.

Despite such challenges, some analysts believed a deal could still get done...

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