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Wednesday, January 21, 2015

Tootsie Roll says 95-year-old CEO Melvin Gordon dies, (NYSE: TR)

Candy maker Tootsie Roll Industries Inc said Chief Executive Melvin Gordon died at the age of 95 after brief illness, sparking speculation the company could be acquired. Tootsie Roll's shares rose as much as 8 percent to $33.28.

Tootsie Roll Industries, Inc. along with its subsidiaries, is engaged in the manufacture and sale of confectionery products. Shares of TR traded higher by 7.14% or $2.2/share to $33.01. In the past year, the shares have traded as low as $26.03 and as high as $31.19. On average, 73434 shares of TR exchange hands on a given day and today's volume is recorded at 452486.