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.

Mondelez International Inc., maker of Ritz and Oreo, is mulling a takeover of the Derry Township-based confectioner and snack company, according to Bloomberg.

Mondelez International Inc., the snacks and sweets company, is exploring an acquisition of iconic US chocolate maker Hershey Co., in a potential deal that would create a food giant with combined sales of almost $50 billion,

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

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.

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.

Mondelez said on Wednesday it would focus on "bolt-on" deals days after a report that the Cadbury parent was exploring the acquisition of Hershey. Hershey shares, which surged as much as 19% on Monday following Bloomberg's report that Mondelez had made a preliminary approach about a possible combination with the company,

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