Mondelēz International withdrew its $23bn offer for The Hershey Company.

Mondelēz International, an American multinational confectionery, food, holding, beverage and snack food company based in Chicago, withdrew its $23bn offer for The Hershey Company, an American multinational confectionery company headquartered in Hershey, Pennsylvania. "As the world's leading snacking company, we remain focused on successfully executing our strategy to deliver both sustainable top-line growth and significant margin expansion and are well-positioned to continue to deliver value to our shareholders," Irene Rosenfeld, Mondelēz International Chairman and CEO.