Hershey, Mondelez Not Direct Competitors

Hershey Spurns $23B Mondelez Buyout Offer
– Law360
Law360 interviewed Manatt’s Lisl Dunlop, co-chair of the firm’s antitrust and competition practice, for an article about The Hershey Co.’s rejection of a $22.8 billion takeover offer from Mondelez International. Despite the heavy antitrust scrutiny that big-ticket deals have seen recently, Dunlop said a review of Hershey and Mondelez would not reveal any significant conflicts.
“The focus on the inquiry would be confectionary. But given the current contractual scenario, I don’t see how there would be an issue,” she said. “Right now, there isn’t really any actual competition between Hershey and Mondelez in the U.S. because all of the Cadbury chocolate is manufactured and distributed by Hershey.”

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