(MENAFN) Hershey Trust Co. to sell 4.5 mln shares of its unit Hershey Co. of Hershey's common stock.
The trust said it will sell 3 million shares of Hershey to Morgan Stanely and an additional 1.5mln shares to Hershey Company.
Earlier, Hershey had rejected USD23bln bid from Oreo cookie owner Mondelez as Hershey Trust was involved in a dispute with its overseer that resulted in departures at the board of the trust.
The maker of Reese's Peanut Butter Cups and Hershey's Kisses, Hershey, said it will acquire the 1.5 mln stock from the trust for USD106 per share, or about USD159 million.
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