Published June 30, 2016 10:43am EDT | Updated June 30, 2016 11:03am EDT

Hershey's Stock Soars To Record High After WSJ Report Of Mondelez Buyout Bid

Shares of Hershey Co. soared 21% prior to a record high, after The Wall Street Journal reported that Mondelez International Inc. had made a takeover bid for the snack foods company. Mondelez had sent a letter to Hershey earlier this month, the WSJ reported. Hershey's market capitalization increased to $24.5 billion after the stock's jump. Mondelez's stock surged 2.1%, taking its market cap up to $68.1 billion.