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Hershey Media Report 8/12/16

    National Coverage

  1. Mondelez to buy Cadbury Biscuits License from Burton’s

    Aug 12, 2016 | Wall Street Journal

    By Brittney Laryea

    Only Relevant Portions Included: ...News of the Cadbury deal comes after Hershey Co. rejected Mondelez’s roughly $23 million takeover bid...
  2. Mondelez to mix Cadbury chocolate and biscuits with Burton's deal

    Aug 12, 2016 | Reuters

    Only Relevant Portions Included: Mondelez, which bought Cadbury chocolate in 2010 for about $19 billion, also recently offered to buy U.S. rival Hershey (HSY.N), but was rebuffed.

    3. Trade Coverage

  3. Mondelez International: Why a Hershey Deal Makes Sense

    Aug 11, 2016 | Barron's

    By Ben Levisohn

    Susquehanna’s Pablo Zuanic explains why a Mondelez International (MDLZ) purchase of Hershey (HSY) would make sense…but probably won’t happen:

    4. Full Text of Stories Below

    National Coverage

  1. Mondelez to buy Cadbury Biscuits License from Burton’s

    Aug 12, 2016 | Wall Street Journal

    By Brittney Laryea

    Only Relevant Portions Included: ...News of the Cadbury deal comes after Hershey Co. rejected Mondelez’s roughly $23 million takeover bid...

    Return to headline | Return to top

  2. Mondelez to mix Cadbury chocolate and biscuits with Burton's deal

    Aug 12, 2016 | Reuters

    Only Relevant Portions Included: ..Mondelez, which bought Cadbury chocolate in 2010 for about $19 billion, also recently offered to buy U.S. rival Hershey (HSY.N), but was rebuffed...

    Return to headline | Return to top

    3. Trade Coverage

  3. Mondelez International: Why a Hershey Deal Makes Sense

    Aug 11, 2016 | Barron's

    By Ben Levisohn

    Susquehanna’s Pablo Zuanic explains why a Mondelez International (MDLZ) purchase ofHershey (HSY) would make sense…but probably won’t happen:

    Taking a 12-month view, wecontinue to assign a very low probability to the Hershey Trust (despite its changing and embattled nature), and hence to the Hershey Board, accepting a hypothetical increased offer from Mondelez for Hershey (to the original $107 per share bid). Once a totally new Trust Board is in place, by early 2018, things could be different, but we are uncertain Mondelez will exist in its current form by then. We assume that if one does indeed materialize (an increased offer), it will be accepted (the new offer…; pardon the David Foster Wallace here), as CEO Rosenfeld in our view could not afford (PR wise) to table a second offer and be rebuffed again. In other words, if this second offer were indeed to materialize, we think it would only be after the Trust would have somehow given clear indications it would agree (to the new offer). But it is very hard for us to think that this Trust could do that given its current predicament (i.e., who there would do this?).

    Shares of Hershey have advanced 0.3% to $112.11 at 11:01 a.m. this morning, while Mondelez International has declined 0.2% to $43.37.

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    4. Full Text of Stories Below

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