Mike Preston's report card in Week 3
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Irene B. Rosenfeld

Mondelez says it ended talks to buy Hershey

Oreo cookie maker Mondelez says it has ended discussions to buy The Hershey Co, a combination that would have created a global powerhouse selling some of the world's best known chocolates and snacks.

Hershey had said in June that it rejected a preliminary takeover bid from Mondelez International Inc. valued at roughly $22.3 billion, according to FactSet. It said at the time that the offer provided "no basis for further discussion."

A representative for Hershey said the company had no comment beyond acknowledging that it had been in talks with Mondelez and that they had fallen through. A deal would have been subject to the Hershey Trust, a controlling...

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