Mars' $36B Kellanova Deal: Analysts See Minimal Category Overlap, No Competing Bids
KKellogg(K) Benzinga·2024-08-16 02:54

In a standout M&A move, Mars, Inc. has agreed to acquire Kellanova K for 83.50pershare,markinga4483.50 per share, marking a 44% premium over its 30-day average price. The 35.9 billion transaction is anticipated to be finalized in the first half of 2025, subject to shareholder and regulatory approvals.Here’s what analysts are saying about the deal:RBC Capital Markets analyst Nik Modi downgraded Kellanova from Outperform to Sector Perform, raising the price forecast to 83.50from83.50 from 76.Piper Sandler analyst Michael S. Lavery reiter ...