Mars-Kellanova Deal Boosts Grocery Aisle Stocks
Shares of the companies that dominate the center aisles of America's grocery stores got a boost on Wednesday from news of Mars Inc.'s $36 billion purchase of snack maker Kellanova (K).
Mars to acquire Pop Tarts, Pringles maker Kellanova in $36B deal
The move to acquire Kellanova will help Mars lean further into the snacking category as it seeks to "double Mars Snacking in the next decade," the company said.
Why Kellanova Stock Is Soaring Again Today
Mars plans to buy Kellanova for $83.50 per share, representing about 4% more upside. If the deal doesn't go through as planned, Kellanova stock could drop back down to where it's been trading recently.
Candy Maker Mars Buys Pop-Tarts, Pringles Maker Kellanova for Nearly $36 Billion
Candy giant Mars has agreed to acquire Pop-Tarts and Pringles maker Kellanova (K) for $83.50 per share, or a total enterprise value of $35.9 billion, in what would be the biggest M&A transaction this year.
Mars Buying Pringles, Cheez-It Maker Kellanova For Nearly $36 Billion
Mars, the candy giant whose brands include M&M's and Skittles, will buy Kellanova—makers of snacks like Pringles and Cheez-It—in a deal valued at $35.9 billion, both companies announced Wednesday, a transaction that would reportedly be the largest in the packaged food industry in over a decade.
Chocolate giant Mars to acquire Kellanova, maker of Cheez-Its and Pringles in $29B deal
The privately held maker of popular chocolate bars including Snickers, M&Ms and Milky Way said it has agreed to pay $83.50 a share.
Kellanova shares spike as Mars confirms takeover rumours
Pringles and Pop Tarts owner Kellanova (NYSE:K) has surged in premarket trading after Mars confirmed rumours it would be purchasing the snack company for US$36 billion. Mars, the family-owned confectionery giant, is set to pay US$83.50 a share, representing a nearly 33% premium to its market value at the start of the month when the story was first reported.
Mars is buying the maker of Pringles and Cheez-It for almost $36 billion
Mars is buying Kellanova for almost $36 billion, making it one of the largest deals this year. Kellanova's big business is salty snacks, like Cheez-its and Pringles.
Kellanova Stock Jumps 7%. Mars Confirms Deal Worth Almost $36 Billion.
Candy giant Mars is unveiled a near $36 billion deal for foodmaker Kellanova on Wednesday.
M&M's candy maker Mars to buy out Pringles parent Kellanova in $36 bln deal
Family-owned packaged food giant Mars, whose candy brands include M&M's and Snickers, said on Wednesday it would buy Pringles maker Kellanova for nearly $36 billion in the biggest deal in the packaged food sector.
Kellanova stock climbs on report Mars acquisition is imminent
Shares of Kellanova K, +0.69% are up 7.4% in premarket trades amid a report that a Mars acquisition of the Pringles maker is imminent. Citing people familiar with the matter, The Wall Street Journal reports that Mars is expected to announce a nearly $30 billion deal for the snack-foods company Wednesday.
Snickers maker Mars to pay $83.50 per share for Kellanova, WSJ reports
Family-owned packaged food giant Mars, whose candy brands include M&M's and Snickers, is expected to pay $83.50 per share for food maker Kellanova , the Wall Street Journal reported on Tuesday citing people familiar with the matter.
