Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The fight to sell Hershey Foods Corporation has melted like chocolate in the summer sun. Amid opposition to a sale from regulators, community leaders, and key shareholders, The Hershey Trust Company, the candy maker’s controlling shareholder, took the corporation off the auction block in September. Two weeks earlier, Pennsylvania district court judge Warren Morgan had issued an injunction halting the sale. The request for an injunction was the brainchild of Pennsylvania attorney general Mike Fisher, who is running for governor of Pennsyl-vania. On August 12 Fisher filed a petition in Dauphin County Orphan’s Court to force the trust to reveal all offers made for Hershey and to require it to obtain court approval before finalizing a sale. In seeking the injunction, Fisher cited the “irreparable harm” that would result from the loss of jobs and tax revenue if Hershey were sold. Fisher’s office says that the injunction had a major impact in halting the sale. The trust says that bids for the company simply did not meet all of its criteria. The trust received bids from Wm. Wrigley Jr. Company, represented by New York’s Fried, Frank, Harris, Shriver & Jacobson, and from Cadbury Schweppes plc, represented by Philadelphia’s Morgan, Lewis & Bockius. Nestl� S.A. and Kraft Foods Inc. also made bids but declined to reveal the law firms that represented them. In the bidding process, Hershey Foods was represented by New York’s Sullivan & Cromwell, and Hershey Trust sought advice from New York’s Skadden, Arps, Slate, Meagher & Flom. For plaintiff State of Pennsylvania (Harrisburg, Pennsylvania) n In-house: Attorney General Mike Fisher, executive deputy attorney general Alexis Barbieri, chief deputy attorney general Mark Pacella, first deputy attorney general Gerald Pappert, and senior deputy attorney general Linda Williams. For defendant The Hershey Trust Company (Hershey, Pennsylvania) and the Milton Hershey School (Hershey, Pennsylvania) n In-house: Vice president-legal and financial services for the Milton Hershey School and trust counsel Robert Stets. n Buchanan Ingersoll (Pittsburgh): Howard Bashman, Christopher Farrell, Jack Stover, Jayson Wolfgang, and associate P. Kevin Brobson. (Bashman is located in the firm’s Philadelphia office; Stover, Wolfgang, and Brobson are in Harrisburg.) The Milton Hershey School is the trust’s sole beneficiary. The firm has represented both the trust and the school in other matters. Outlook Hershey Trust Company’s board has rejected all bids, and Hershey Foods has stopped shopping itself to potential buyers. -Allison Fashek

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.