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.
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.
Mars is expected to unveil a nearly $30 billion deal for foodmaker Kellanova K 0.69%increase; green up pointing triangle on Wednesday, according to people familiar with the matter, assuming talks don't hit a last-minute snag.
Mars' contemplated acquisition of U.S. snack maker Kellanova stands a good chance of getting past global antitrust regulators, legal experts say, even as it touches on a sensitive area of government oversight -- how much consumers pay for food.
On August 5, 2024, Reuters reported that Mars, the family-owned food giant, is exploring an acquisition of Kellanova (NYSE: K, $73.20, Market Capitalization $25.1 billion), a leader in global snacking, international cereal and noodles (for more information, visit spinoffresearch.com). The news of a potential deal sent Kellanova's shares up ~10% to $73.20 on 8/5 compared to $62.98 on 8/4.
Kellanova (NYSE:K) stock is bucking the broad-market selloff today, up 14.4% at $17.03 at last glance, earlier hitting a nearly 8-year high of $75.40.
Kellanova (NYSE: K ) stock is advancing 14% today despite the stock market's sharp downturn. That's because privately held candy bar maker Mars is reportedly considering buying Kellanova, and the two firms are said to have held talks about such a deal.
One of the biggest deals in the history of the snacking industry may be on the near horizon, according to new reports from Reuters and the Wall Street Journal.
Pringles maker Kellanova (NYSE:K) was one of the few risers on Wall Street today on reports that Mars is mulling a bid. Kellanova (NYSE:K) shares jumped 18% on the Reuters report of a potential $27bn (£21bn) deal.
Kellanova (K) shares are jumping 19% in premarket trading Monday on a report that candy giant Mars is in advanced talks to buy the maker of Pop-Tarts and Pringles.
The Wall Street Journal reports candy company Mars is in advanced talks to acquire the snack maker.
Shares of Pringles maker Kellanova surged more than 16% in trading before the bell on Monday, after a Reuters report said candy giant Mars was exploring a potential buyout of the company.