Mondelez International (MDLZ), the company behind Oreos and Cadbury, made a bid to acquire Hershey (HSY) in a cash-and-stock transaction valued at $23 billion. Hershey's board swiftly rejected the offer and the company said the offer "provided no basis for further discussion" between the companies. Meanwhile, this is one merger of snack foods that Hershey may be more amenable to:
Double Chocolate Cookies with Nutella, Cookie Dough and a Cookies & Creme Hershey Bar pic.twitter.com/sdU1z9f7vz¿ Love Food (@LoveFoodExtra) June 28, 2016
In light of increasing global uncertainty, PIMCO released a report that examines pain points in the global economy and offers a few areas of hope. The report says the correction in commodity prices may be complete, which may be welcome news for energy investors. Amid uncertainty, the report also suggests making capital preservation the primary goal of any invesment portfolio.
Brexit worries and other global chaos led Bank of England Governor Mark Carney to say Thursday that interest rate cuts and other accommodative measures may be necessary this summer. Such a rate cut in Britain could take place in August. Still, Carney offered hope for the U.K. operating outside the European Union.
Carney: "The question is not whether the UK will adjust but rather how quickly and how well."¿ Bank of England (@bankofengland) June 30, 2016
-- Written by Carleton English