HERSHEY NIXES BID THAT SPURRED SWEET STOCK JUMP

Investors think a merger between two of the largest snack companies in the U.S. would be sweet. But Hershey on Thursday told Mondelez International to kiss off. Shares of Hershey soared Thursday after Mondelez made a non-binding indication of interest to acquire the Hershey, Pa., company. However, Hershey said its board unanimously rejected the proposal “and determined that it provided no basis for further discussion.” Hershey shares rocketed 16% higher to $113.49 following media reports about the overture.