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Hershey (HSY) Stock Stumbles in After-Hours Trading, Mondelez Not Pursuing Deal

NEW YORK (TheStreet) -- Shares of Hershey (HSY) were falling 11.35% to $99 in after-hours trading on Monday after Mondelez (MDLZ) said it is no longer pursuing a combination with the company.

"As the world's leading snacking company, we remain focused on successfully executing our strategy to deliver both sustainable top-line growth and significant margin expansion and are well-positioned to continue to deliver value to our shareholders," Mondelez CEO Irene Rosenfeld said in a statement.

After additional discussions and taking into account recent shareholder developments at Hershey, Mondelez...