WSJ DEALS ALERT: Snack Maker Mondelez Drops Pursuit of Hershey

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Deals Alert

Snack Maker Mondelez Drops Pursuit of Hershey

Mondelez International ended its bid to acquire Hershey after the famed chocolate-bar maker rebuffed a new takeover offer and indicated it would be difficult to strike a deal before next year.

Mondelez said in a statement after the market closed Monday that it determined there was "no actionable path forward" for its bid to buy its smaller rival.

The Wall Street Journal reported in June that Mondelez made a roughly $23 billion bid for Hershey, a tie-up that would have created the world's largest candy maker.

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