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  • 08.29.16

No dessert for Mondelez International

Snack-food giant Mondelez International Inc. is abandoning its bid to acquire Hershey Co. The Wall Street Journal reports that the company, realizing its estimated $23 billion offer was simply not sweet enough for the iconic chocolate brand, has decided it has “no actionable path forward.”

Hershey reportedly rejected Mondelez’s offer in June. The deal would have created the world’s largest candy/snack-food company. Anyone else hungry now?  CZ