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Mondelez, the maker of Oreo and Cadbury, is reportedly exploring an offer to buy rival Hershey Company to potentially create one of the world’s largest candy companies. The preliminary ...

Shares of chocolate company Hershey (NYSE:HSY) jumped 16.4% in the morning session after Bloomberg reported that Mondelez, the company behind Oreo cookies, is exploring a potential buyout of Hershey.

Oreo maker Mondelez made a preliminary takeover approach to Hershey, according to people familiar with the matter. In 2016, Hershey's board rejected the snacking company's $23 billion offer.