Mars to Acquire Kellanova in Deal Worth $35.9 Billion

Consumer packaged goods giant Mars Inc. is set to acquire snack maker Kellanova in a deal worth $35.9 billion.

Under the terms of the previously announced transaction, Kellanova’s portfolio of brands, such as Pringles, Cheez-It, Pop-Tarts and Rice Krispies Treats, will join a lineup of Mars treats that include Snickers, M&M’s, Twix, Kind and Skittles.

The transaction is expected to close Dec. 11. After, the Kellogg Co. spinoff will become part of Mars’ snacking division. It will remain based in Chicago. Additionally, Kellanova’s stock will no longer trade on the New York Stock Exchange, Mars said.

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