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.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below