Kellanova To Be Acquired By Mars For $35.9 Bln In Cash

(RTTNews) - Kellanova (K) announced on Wednesday that it has finalized a definitive agreement to be acquired by Mars, Inc. for $83.50 per share in cash, amounting to a total of $35.9 billion, inclusive of assumed net leverage. Following this news, the stock is up 7% in the pre-market.

This transaction reflects a 44% premium over Kellanova's unaffected 30-day average share price.

Following the completion of this acquisition, Kellanova will integrate into Mars Snacking, under the leadership of Global President Andrew Clarke, with its headquarters located in Chicago.

Mars plans to finance the acquisition entirely through a mix of available cash and newly secured debt commitments.

The transaction is anticipated to conclude in the first half of 2025, pending necessary shareholder and regulatory approvals.

In pre-market activity on the NYSE, the shares are trading at $80.35, up 7.85%.