Investments behind new products and marketing stand to sweeten Hershey's competitive edge at home.
Since its initial interest surfaced two months ago, Mondelez disclosed on Monday that it is dropping its pursuit of Hershey. It has been rumored the initial offer price was raised to $115 per share (from $107 originally)--which equates to $27 billion or 15 times EBITDA--however, in line with our prior assessment, this was still viewed as a bit low. We’ve maintained that assuming 3% cost synergies, an enterprise value/EBITDA multiple of 16-17 (north of the low to mid-teens multiples that tend to ...Hershey is engaged in the production of chocolate and non-chocolate confectionery. The company's segments are: North America, which is responsible for the company's chocolate and non-chocolate confectionery market position, and its grocery and snacks market positions, in the United States and Canada; and International and Other, in which the company has operations and manufactures product in China, Mexico, Brazil, India and Malaysia, and also distributes and sells confectionery products in export markets of Asia, Latin America, Middle East, Europe, Africa and other regions. The company's product offerings include chocolate and non-chocolate confectionery products, gum and mint refreshment products, snack and pantry items.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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