Mars to acquire Pringles maker Kellanova for nearly $36 billion

Mars Inc. has announced its intention to acquire Kellanova, a snack food business, in an all-cash transaction valued at $35.9 billion, including debt. This acquisition comes at a time when consumers are facing rising costs of living. Kellanova, which was created last year as a result of the Kellogg Co.'s split into three companies, reported net sales of over $13 billion in its first year and has approximately 23,000 employees. The acquisition price is $83.50 per share in cash. This deal is the largest ever acquisition for Mars Inc., surpassing its 2008 takeover of Wrigley, a chewing gum maker, which was valued at $23 billion.