imageNEW YORK: US chocolate maker Hershey said Thursday it had rejected a preliminary takeover bid of about $23 billion from food giant Mondelez, whose brands include Cadbury.

The Hershey board of directors said it “carefully reviewed" a bid of $107 per share for the company and “determined that it provided no basis for further discussion between Mondelez and the company."

Copyright AFP (Agence France-Presse), 2016