BREAKINGVIEWS-Hershey would be a bitter confection to swallow

Reuters12-11

BREAKINGVIEWS-Hershey would be a bitter confection to swallow

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Jeffrey Goldfarb

NEW YORK, Dec 10 (Reuters Breakingviews) - The Reese’s chocolatier may again be a takeover target for Cadbury owner Mondelez. Anti-obesity drugs and the recent Mars-Kellanova merger make the 2016 idea worth reconsidering. Financing a $50 bln deal will be tough, however, requiring dubiously huge synergies to justify.

Full view will be published shortly.

Follow @jgfarb on X

CONTEXT NEWS

Mondelez International, the maker of Ritz crackers and Oreo cookies, has made an initial approach to buy U.S. chocolatier Hershey, Bloomberg reported on Dec. 9, citing unnamed sources.

Hershey shares closed up nearly 11%, at $193.65, while those of Mondelez fell more than 2% to $61.44.

(Editing by Jonathan Guilford and Pranav Kiran)

((For previous columns by the author, Reuters customers can click on GOLDFARB/jeffrey.goldfarb@thomsonreuters.com))

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