Kellanova: to be acquired by Mars
(CercleFinance.com) - Kellanova shares are expected to rise sharply on Wall Street this Wednesday, following the announcement of a definitive agreement for the acquisition of the food group by Mars, at a price of $83.
50 per share in cash, i.e. i.e. a total of $35.9bn including net debt.
Home to brands such as Pringles, Rice Krispies Treats, Kellogg's (international) and MorningStar Farms, Kellanova had net sales of over $13bn in 2023, with a presence in 180 markets and around 23,000 employees.
Mars, one of the few very large unlisted US companies, intends to fully finance the acquisition through a combination of cash and new debt, for which commitments have been secured.
The transaction, unanimously approved by Kellanova's Board of Directors, remains subject to shareholder approval and other customary conditions, including regulatory approvals, and is expected to close in H1 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
50 per share in cash, i.e. i.e. a total of $35.9bn including net debt.
Home to brands such as Pringles, Rice Krispies Treats, Kellogg's (international) and MorningStar Farms, Kellanova had net sales of over $13bn in 2023, with a presence in 180 markets and around 23,000 employees.
Mars, one of the few very large unlisted US companies, intends to fully finance the acquisition through a combination of cash and new debt, for which commitments have been secured.
The transaction, unanimously approved by Kellanova's Board of Directors, remains subject to shareholder approval and other customary conditions, including regulatory approvals, and is expected to close in H1 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.