Mars Announces Kellanova Deal: What This Means for K Stock
KKellogg(K) Investor Place·2024-08-14 21:32

Privately held Mars is buying Kellanova (NYSE:K), the snacks division of cereal giant Kellogg’s. The stock will be bought for 83.50pershare.Beforetheannouncement,Kstockwassellingfor83.50 per share. Before the announcement, K stock was selling for 74.50 per share. It was about 80beforethemarketopenedtoday.CNNsaidtheallcashdealwasworth80 before the market opened today.CNN said the all-cash deal was worth 29.5 billion, but The New York Times said it was worth 35.9billion.Thedifferenceismainlyduetothe35.9 billion. The difference is mainly due to the 5 billion in long-term debt Kellanova had on its balance sheet at the end of June.Split and SellSomething li ...