Mondelēz International, Inc. today announced it has ended discussions with The Hershey Company regarding a possible combination of the two companies.
"As the world's leading snacking company, we remain focused on successfully executing our strategy to deliver both sustainable top-line growth and significant margin expansion and are well-positioned to continue to deliver value to our shareholders," said Chairman and CEO Irene Rosenfeld. "Our proposal to acquire Hershey reflected our conviction that combining our two iconic American companies would create an industry leader with global scale in snacking and confectionery and a strong portfolio of complementary brands. Following additional discussions, and taking into account recent shareholder developments at Hershey, we determined that there is no actionable path forward toward an agreement. While we are disappointed in this outcome, we remain disciplined in our approach to creating value, including through acquisitions, and confident that our advantaged platform positions us well for top-tier performance over the long term."
Barclays Conference Global Consumer Staples Conference Mondelēz International will present at the Barclays Global Consumer Staples Conference on Wednesday, Sept. 7, at 9 a.m. EDT. Presenting on behalf of the company will be Executive Vice President and Chief Financial Officer Brian Gladden, Executive Vice President, Integrated Supply Chain Daniel Myers and Executive Vice President and Chief Growth Officer Tim Cofer.