Company proposes changing its name to Hershey and relocating its global headquarters as part of the deal.
Mondelez International Inc. has placed a bid in an effort to purchase The Hershey Co.
According to a report in The Wall Street Journal, Mondelez, the maker of Oreo cookies and Cadbury chocolate bars, has sent Hershey a letter offering $107 a share—50% cash and 50% stock—for the company. The deal would require approval by the Hershey Trust.
Mondelez has said it would protect jobs, move its global headquarters to Hershey, Pa. and rename its company Hershey, if the deal is accepted, according to the Wall Street Journal.