DERRY TOWNSHIP, DAUPHIN COUNTY, Pa. -- The maker of Cadbury chocolates proposes a takeover of Hershey, but the relationship wasn't meant to last as it's met with rejection.
Mondelez International made an offer for Hershey, which caused the chocolate company's stock to rise from about $96 dollars a share to $107.
A couple financial experts shared their thoughts about this latest chapter in the chocolate company's history.
An international company known for Cadbury chocolates and Oreo cookies gets a Hershey's kiss off in a failed takeover bid for the maker of the great American chocolate bar.
York College professor of economics Ken Slaysman said "my initial thought about takeovers is they tend to promote more than they deliver."
Integrity Wealth Strategies managing principal Joe Mahoney said "Hershey is famous for turning it down, because Hershey has always gone back to 'are we protecting our employees, our we protecting the product, our we protecting the integrity of the Hershey company.'"
The news of a takeover alone was enough to send Hershey's stock from about $96 dollars a share to $107 and up.
"The changing of the guard gets people excited, and it makes the stock go up, with the thought of what the future earnings could be, nothing changed today in the company, but what will it be like in five years, ten years or even three years," Mahoney said.
Some said a Hershey's takeover could have been a sweet deal, not only for Chocolatetown U.S.A., but central Pennsylvania as well.
"If it promotes jobs in this area, then the people in those jobs who earn higher incomes, they'll spend those higher incomes locally at the many restaurants, gas stations, grocery stores in the area so that kind of ripple effect could be significant," Slaysman said."