Report: Mondelez Seeks to Acquire Hershey

The maker of Oreo cookies and Cadbury chocolate evidently hopes to acquire one of the world's foremost chocolate brands.

The Wall Street Journal, citing sources familiar with the matter, reported that Mondelez sent a letter to Hershey offering to purchase the company at a price of $107 per share.

The offer, which is 50 percent cash and 50 percent stock, would require approval from the Hershey Trust, which holds about 8 percent of the company's stock but more than 80 percent of its voting power -- and has famously opposed previous acquisition bids.

Mondelez, however, reportedly offered to rename the company Hershey, protect its workforce in the event of a merger and base its chocolate business in Hershey's namesake Pennsylvania home.

Hershey's stock price hit a record high in trading following the report Thursday morning.