Hershey shares jump on Cadbury owner buyout report

Hershey shares jump on Cadbury owner buyout report Getty ImagesMondelez has reportedly made a preliminary approach to the maker of the iconic Hershey's milk chocolate bar Shares in US chocolate maker Hershey have jumped by more than 10% after a report that Mondelez International, which owns UK-based Cadbury, has approached the firm about a potential buyout. A deal could create a snack food giant with combined sales of almost 50bn ( 39.2bn) a year. Both Mondelez and Hershey declined to comment on the report when contacted by BBC News. In 2016, Hershey rejected a 23bn takeover offer from Mondelez. The approach is still in the preliminary stages and it is not certain that talks will lead to a deal, according to Bloomberg.