Mondelez Lower After Being Left Out Of Merger Talks In Food Sector

Mondelez International Inc MDLZ shares are trading lower by $0.80 at $42.40 in Friday's session. That loss comes on top of Thursday's $2.37 decline from $45.37 to $43.20. Thursday's decline was attributed to the unconfirmed rumor that 3G was no longer in consumer packaged goods companies.

The issue is under selling pressure in today's session for two reasons. First of all, its peer in the industry General Mills, Inc. GIS is trading lower after the company lowered its 2017 outlook.

Shares of the issue are lower by $2.34 at $59.20.

Also, adding to its woes is the news that Unilever plc (ADR) UL has declined a proposal to be acquired by Kraft Heinz Co KHC. That has shareholders of Mondelez worried that may be left out of any potential deals in the food sector.