Mondelez decided to buy Hershey

The Mondelez food production company sent a letter to the manufacturer Hershey chocolate with an offer of absorption. It is reported by The Wall Street Journal (WSJ) with reference to sources familiar with the situation.

According to CNBC, Hershey shares after a report of a possible transaction increased by 21%. The sources of the channel also confirmed negotiations between the two companies.

WSJ failed to find out the details of the Mondelez proposal. The newspaper notes that the market value of Hershey in the morning of June 30 reached $ 21 billion, Mondelez - $ 69 billion.

The publication also indicates the need to approve such transactions by Hershey Trust, which owns 8.4% of the company's control package and 81% of voting shares.

In the past, Hershey Trust opposed the sale of the company, adds WSJ. For example, in 2002, the possibility of selling Hershey Kraft Foods, after the separation of which Mondelez was formed, said CNBC.

Mondelez produces food, as well as drinks, including coffee. The company produces Cadbury chocolate bars, Chocolate Milka, Alpen Gold, in Russia Mondelez produces Yubileiny cookies.

Hershey produces the chocolate bars of the same name, in addition, in the USA, the company produces Kitkat, which is produced by Nestle outside the states. Both companies are founded in the USA.