Oreo maker Mondelez considers Hershey acquisition: Bloomberg

Mondelez International, the snack and confectionery giant, is considering acquiring Hershey Co., the renowned US chocolate maker, in a potential deal that would form a food powerhouse with nearly $50 billion in combined sales, according to a Bloomberg report. 

Mondelez has initiated a preliminary proposal for a potential merger. Hershey has engaged advisors to assist in responding to the interest. Mondelez approached Hershey shortly after the chocolate maker reported weaker-than-expected third-quarter earnings last month.

The discussions are still in the early stages and there is no guarantee they will result in a deal.

In 2016, the Chicago-headquartered Mondelez attempted to acquire Hershey, but the $23 billion takeover offer was rejected by the owner of Kisses and Reese's Peanut Butter Cups.