Mars to Acquire Pringles Manufacturer for $36 Billion
Source: Dairynews.today
Mars Inc., known for its eponymous chocolate bars, has announced its intention to acquire snack manufacturer Kellanova for nearly $36 billion.
In an official statement on the company's website, it was clarified that the parties have reached an agreement under which Mars will pay $35.9 billion ($83.5 per share). This amount represents a 44% premium over the average Kellanova stock price for the 30 days prior to the news of the deal.
Kellanova's board of directors unanimously approved the offer, which will allow Mars to gain control over brands such as Pringles, Cheez-It, and Pop-Tarts. The deal requires approval from Kellanova's shareholders and regulatory authorities, with the transaction expected to close in the first half of 2025.
Kellanova's board of directors unanimously approved the offer, which will allow Mars to gain control over brands such as Pringles, Cheez-It, and Pop-Tarts. The deal requires approval from Kellanova's shareholders and regulatory authorities, with the transaction expected to close in the first half of 2025.
