BUZZ-Mondelez International rises on new $9 bln share buyback program, "bolt-on" acquisition strategy

Reuters

2024-12-11

BUZZ-Mondelez International rises on new $9 bln share buyback program, "bolt-on" acquisition strategy

** Shares of Cadbury-parent Mondelez International MDLZ.O down 3.7% at $64.06 premarket

** Co announces an up to $9 bln share buyback program

** Share buyback program set to start on Jan. 1, effective until the end of 2027, replacing current $6 bln plan

** Co says it remains committed to an acquisition strategy that is focused on "bolt-on" deals

** Shares of HSY down ~5% premarket

** Up to Tuesday's close, MDLZ stock has fallen 15% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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