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Tootsie Roll says 95-year-old CEO Melvin Gordon dies

Jan 21 (Reuters) - Candy maker Tootsie Roll Industries Inc said Chief Executive Melvin Gordon died at the age of 95 after brief illness, sparking speculation the company could be acquired.

Tootsie Roll's shares rose as much as 8 percent to $33.28.

The board named Gordon's wife Ellen Gordon, who is the company's chief operating officer, as CEO.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)