Sale Of Hershey Still Pondered
The battle over Hershey Foods is moving into the Pennsylvania legislature. Lawmakers in the candy-maker´s home state are exploring the possibility of changing a law governing charitable trusts, to prevent a sale of Hershey.
The Hershey Trust last month announced a plan to explore a sale of the company to further diversify the trust´s base of assets. The trust owns the controlling stake in Hershey Foods.
Hershey Foods operates a chocolate manufacturing plant in Oakdale.
One possibility that lawmakers are looking at is changing the law so a trust manager would have to weigh the welfare of the community as well as that of its beneficiary when managing its assets.
News of the possible sale set off a flurry of protest from business and political leaders in Pennsylvania, who fear that the town of Hershey would be harmed if the company is sold.