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

So-Young International

11/12/2024 13:48

(Corrects first bullet point to say shares rose, not fell)
    ** Shares of Cadbury-parent Mondelez International  MDLZ.O 
rose 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;))