Mondelez’s Potential Hershey Takeover Could Be 2024's Biggest Deal

Snack-food giant Mondelez International Inc.’s potential acquisition of chocolate maker Hershey Co. would rank as the largest merger and acquisition (M&A) deal of the year, Ben Scent reported for Bloomberg News.

A Mondelez takeover of Hershey, valued at $44 billion including debt as of Monday’s close, would surpass Mars Inc.’s planned purchase of cereal producer Kellanova. I Photo: Mike Mitchell Wikimedia Commons

Global M&A volume has risen 18% year over year to $3.1 trillion, signaling a gradual recovery from last year’s lows, according to data compiled by Bloomberg.

A takeover of Hershey, valued at $44 billion including debt as of Monday’s close, would surpass Mars Inc.’s planned purchase of cereal producer Kellanova, becoming the year’s largest acquisition if finalized.

This year has seen an increase in megadeals, with standout transactions in the software, energy, and media sectors. Consumer transactions have been particularly prominent, comprising nearly 20% of total deal volumes.

Activity is also robust in financial services. BlackRock Inc. recently agreed to acquire HPS Investment Partners for $12 billion, and Prudential Plc is exploring options for its Asian asset management arm, Eastspring Investments.

A consortium, including Starwood Capital Group and Qatar Investment Authority, made a $7 billion binding offer for ESR Group Ltd., an Asian warehouse operator. Additionally, Topcon Corp., a Japanese eye-care equipment maker, has attracted interest from suitors such as KKR & Co. and EQT AB.

Other notable deals include Carlyle Group Inc.'s sale of software firm 1E to Germany’s TeamViewer SE for $720 million and CVC Capital Partners Plc's $1.2 billion offer to take CompuGroup Medical SE private.