Mars to buy Pringles maker Kellanova for $36 billion in 2024’s biggest deal

Family-owned candy giant Mars is buying Cheez-It maker Kellanova (K.N), opens new tab in a nearly $36 billion deal, bringing together brands from M&M’s and Snickers to Pringles and Pop-Tarts in the year’s biggest deal to date.

Mars said on Wednesday it will pay $83.50 per share for Kellanova (K.N), opens new tab, representing about a 33% premium to its closing price on Aug. 2 before Reuters first reported that Mars was exploring a deal for the maker of frozen breakfast foods, such as Morningstar Farms and Eggo.

Source: REUTER