Kellanova Surges On Potential Mars Buyout
KKellogg(K) Forbes·2024-08-07 01:33

WK Kellogg Co and Kellanova HeadquartersgettyOn August 5, 2024, Reuters reported that Mars, the family-owned food giant, is exploring an acquisition of Kellanova (NYSE: K, 73.20,MarketCapitalization73.20, 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 73.20on8/5comparedto73.20 on 8/5 compared to 62.98 on 8/4. The acquisition would test the appetite of regulators to allow consolidation ...