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March 28
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U.S. largest chocolate manufacturer Hershey refused the offer on merging with the competing Mondelez International company, The Wall Street Journal reported.

Hershey’s board unanimously rejected the bid Thursday and said it “provided no basis for further discussion” .

As earlier reported, Mondelez International, producer of popular chocolate brands of Cadbury and Milka, estimated each share of the company at $107.  The transaction amount would make $23 billion, the largest in the global confectionery market with a market capitalization of about $ 90 billion, the newspaper reported.

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