Overview
- Mars will pay $83.50 per share in cash for Kellanova, totaling $35.9 billion including debt.
- Kellanova, formed from Kellogg's split, includes brands like Pringles, Eggo, and Cheez-It.
- The combined entity will control around 8% of the U.S. snack market, just behind PepsiCo's 9%.
- The deal is expected to face scrutiny from U.S. antitrust regulators due to high food prices.
- Mars aims to leverage Kellanova's international footprint and integrate organizational efficiencies.