Hershey's majority owner has rejected a takeover bid from Mondelez, deeming the offer too low. The potential acquisition was valued at $44 billion, including debt. Meanwhile, Kellogg's has reported a loss ahead of a significant deal with Mars, indicating challenges in the snack food sector. Additionally, Mondelez is reportedly showing renewed interest in acquiring Hershey, despite previous interactions that suggest caution may be warranted among investors.