Hershey Trust Co. is a rarity in corporate America. It owns almost all of Hershey Co.’s Class B stock, giving it roughly 80% of the voting power of the company. That clout was apparent this week when it rebuffed a takeover attempt by Mondelez International Inc.

According to Bloomberg, the Hershey Trust Co. rejected a takeover bid by Mondelez International, Inc. to acquire the Hershey Co. in Derry Township. File photo by Dan Gleiter | [email protected] PENNLIVE.COM

Snack-food giant Mondelez International Inc.’s potential takeover of chocolate maker Hershey Co. would rank as the year’s top M&A deal. Chicago-based Mondelez, the maker of Oreo, Ritz, Wheat

The main owner of US chocolate maker Hershey Co. has rejected a preliminary takeover offer from Mondelez International Inc., people familiar with the matter said, potentially ending a fresh pursuit that would’ve created a food giant with combined sales of almost $50 billion.

Hershey's main controlling owner has rejected Mondelez International's preliminary takeover offer, terming it as too low, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Mondelez International Inc. approved a stock repurchase authorization of as much as $9 billion amid a setback in its talks to buy chocolate maker Hershey Co., raising doubts about the deal.