- Reuters•11 hours ago
The Pennsylvania Attorney General's office on Friday unveiled the terms of a reform agreement with the charitable trust that controls Hershey Co (HSY.N) that includes a 10-year term limit for trustees and limits on their compensation to $110,000. The trust has been in the spotlight since Hershey rejected a $23 billion cash-and-stock offer for the candy maker by Mondelez International Inc (MDLZ.O), the maker of Oreo cookies and Cadbury chocolate, last month. The agreement, which comes after an investigation of several months by the Attorney General's office over the trust's governance, compensation and expenses, could offer the clarity needed for Mondelez to make a new bid to acquire Hershey.
- Reuters•13 hours ago
The Pennsylvania Attorney General's office unveiled on Friday the terms of a reform agreement with the charitable trust that controls Hershey Co that includes a 10-year term limit for trustees and limits on their compensation to $110,000. The deal, as first reported by Reuters last week, requires three trustees, Joseph Senser, Robert Cavanaugh and James Nevels, to step down by the end of the year. Senser and Cavanaugh have been trustees since 2001, while Nevels has been a trustee since 2007.
Mondelez International, Inc.NasdaqGS
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