Hershey Co. said it rejected a takeover offer from Oreo maker Mondelez International Inc. that would bring some of the world's best-known cookies and chocolates under one company. An email and phone call to the Hershey Trust were not returned Thursday. Although the Hershey Trust has rejected overtures in the past, Goldman noted that its board members have recently found themselves in hot water. 11:46 a.m.: This article was updated to add that Hershey’s board rejected the deal. The company confirmed it received a preliminary offer from Mondelez for a mix of cash and stock totaling $107 a share of Hershey common stock.

Source: Los Angeles Times June 30, 2016 17:45 UTC