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Hershey Foods Trust halts bid to sell candy maker
Hershey Hoods Corp. reversed a move to sell controlling stake after weeks of opposition. The board rejected all bids, citing potential harm to the economy of Hershey, Pennsylvania, home to the Milton Hershey School and the town’s major employer. Public protests and petitions followed as residents feared plant closures and layoffs. The trust controls 77 percent of voting shares and had sought bids to protect its investments amid economic turmoil.
MENTIONED IN THIS ARTICLE
King OF Prussia
Hershey Hoods Corp
Tigesteereear Iat
Mation
Hershey
Kraft Foods
Wmrigley Jr. Co
Samuel Weaver
Lehigh University
Hershey Foods
Philadelphia
Trust Board
Hershey Trust
Central Pennsylva