Mondelez’s Takeover of Hershey Would Rank as Top 2024 Deal (1)

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

The volume of mergers and acquisitions globally is already up 18% year over year to $3.1 trillion as dealmaking makes a slow recovery from last year’s lows, according to data compiled by Bloomberg. A takeover of Hershey, which was valued at $44 billion including debt at Monday’s close, would surpass candy bar maker Mars Inc.’s planned purchase of cereal producer Kellanova as the biggest acquisition of the year if they reach a final agreement.

There have already been ...