Snack food giant Mondelez has made an offer to acquire Hershey, according to a Wall Street Journal report.
Following the report, shares of Hershey were up as much as 19% to north of $116 per share.
CNBC’s David Faber added that talks between the company have been going on for a few months.
Here’s the spike in Hershey stock in morning trade on Thursday.
More to come …