6/30/2016
Mondelez, responsible for tasty treats like Oreos and Chips Ahoy! made an offer today to acquire Hershey today. The offer was supposedly $107 per share with half of the deal being funding with cash and the balance with shares. Unfortunately for Mondelez and Bill Ackman, the Hershey board unanimously rejected the offer. Ackman purchased a $5.5 billion stake in 2015. Hershey's share price spiked up to 21% at one point. It closed at $113.49, up roughly 16% on the day.
Adding more to Ackman's troubles, since Brexit, he's lost half a billion dollars...
What are your thoughts on the the stock price spiking for Hershey? Also, what are your thoughts on what Ackman is going through?
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