The main owner of chocolate maker Hershey has rejected a preliminary takeover offer from Mondelez International Inc., people familiar with the matter said.

Mondelez International’s latest overture to Hershey underscores the challenges posed by high cocoa prices and penny-pinching consumers, which could make the company more open to a deal.

Mondelez International approved a stock repurchase authorization of as much as $9 billion, days after a report that the company was exploring an acquisition of chocolate maker Hershey.

A judge blocked Kroger's $24.6 billion acquisition of Albertsons Cos., finding the takeover would lessen competition for grocery shoppers in a ruling that marks a likely death knell for the deal.

Snack-food giant Mondelez International’s potential takeover of chocolate maker Hershey Co. would rank as the year’s top M&A deal.

FreightVana believes the deal will boost its position in the power-only brokerage segment. Loadsmith provides power-only and standard freight brokerage.

Nippon Steel reiterated confidence that its $14.1 billion acquisition of U.S. Steel Corp. can be completed by year-end, even as the current and incoming presidents oppose the takeover.

The package is among the largest seen since 2022, when the Federal Reserve began lifting interest rates, ending the easy-money era.

The acquisition brings 50 to 60 trucks and three service centers into Moran’s operations, increasing its total to 12 service centers and more than 675 pieces of equipment across the Midwest.

TFI International bought truckload and less-than-truckload carrier Keystone Western for an undisclosed sum, the company said in a LinkedIn post.