Hershey Company Unanimously Rejected Preliminary, Non-binding Indication Of Interest From Mondelez

Hershey / PA. (thc) The Hershey Company, a global leader in confection, confirmed that it had received a preliminary, non-binding indication of interest from Mondelez International to acquire the Company for a mix of cash and stock consideration, totalling 107 USD a share of Hershey common stock. The indication of interest also included other non-monetary considerations. The Company’s Board of Directors, after receiving input from the Company’s management and its outside financial and legal advisors, carefully evaluated the indication of interest. Following this review, the Board of Directors of the Company unanimously rejected the indication of interest and determined that it provided no basis for further discussion between Mondelez and the Company. The Company’s Board of Directors and management team are committed to enhancing value for all stockholders in accordance with the Company’s strategic plan.