Irene wants chocolate

EVERYONE'S TALKING

• Irene wants chocolate. Hershey Co. has rejected a $23 billion dollar takeover bid from Mondelez International, the snacking giant led by CEO Irene Rosenfeld (No. 9 on Fortune's list of the Most Powerful Women). If the deal ultimately comes to fruition, it would combine brands like Reese's and Hershey Kisses with Cadbury and Oreo, creating the world's biggest candy company. Incidentally, Rosenfeld said the resulting company would be rechristened Hershey, allowing her to ditch one of the most mocked names in corporate history.

While it's far too early to know it will all shake out, Fortune's John Kell has five things to know about the potential deal, including how it would play into Mondelez's larger strategy and what investors think of the idea.

ALSO IN THE HEADLINES

• A meeting mess. Attorney General Loretta Lynch is expected to announce today that she will accept whatever recommendation the F.B.I. makes about whether to bring charges related to Hillary Clinton's personal email server. Her decision to eliminate the possibility that she could overrule investigators was made all but inevitable after she meet privately with former President Bill Clinton earlier this week—despite the fact that she says the meeting was unplanned and that the two didn't discuss the investigation. New York Times

• Maybe it's May? British Home Secretary Theresa May is now officially campaigning for the leadership of the Conservative Party—and Prime Minister—of the U.K. The race to replace David Cameron been full of surprises, with frontrunner Boris Johnson dropping out, and Justice Secretary Michael Gove announcing a surprise bid. WSJ

• Bye-bye, ban! Defense Secretary Ashton Carter has lifted the Pentagon's ban on transgender people serving openly in the armed forces. The move advances the military transformation he began earlier this year by opening all combat roles to women. Fortune

• The players. AdWeek's new list of the 30 most powerful women in sports includes an interesting mix of athletes (Serena Williams, Missy Franklin), retail leaders (Jeanne Jackson of Nike, Adrienne Lofton of Under Armour), and sports execs (International Speedway Corp. CEO Lesa France Kennedy, NFL CMO Dawn Hudson). AdWeek

• The bio bright spot? A new report looking at CEO pay in various tech-centric industries found just one field where there's no gender pay gap between male and female chiefs: biotech. The researchers attribute biotech's salary equality to the industry's emphasis on advanced degrees. Fortune

MOVERS AND SHAKERS: Nancy Grace announced that she's leaving her eponymous HLN show in October.

IN CASE YOU MISSED IT

• Cooking with Curry. Ayesha Curry, cookbook author and wife of NBA all-star Stephen Curry, has announced that she's launching Gather, a food delivery startup. TechCrunch

• Buzzing about Zika. Zika fears appear to be on the upswing in the U.S., with doctors reporting that worried women are inundating them with questions about the virus. WSJ

• Investing with care. Google Capital, which has previously invested in privately held start-ups, is expanding into publicly-traded companies―investing $46.35 million in Care.com, an online caregiver marketplace led by CEO and founder Sheila Lirio Marcelo. New York Times

• Hilde the spy. Hilde Lysiak, the 9-year-old who made headlines when she broke news of a murder in Pennsylvania, has inked a deal with Scholastic to write four books based on her investigative adventures. EW

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ON MY RADAR

Two female players have been signed by a minor league baseball team Washington Post

Why drug companies want to sell vaccines to pregnant women Bloomberg

Designers wouldn't dress Leslie Jones. Then she tweeted about it Huffington Post

Insurance won't pay for women to have pleasurable sex CNN

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