Mars has reached an agreement to buy Kellanova, one of the largest food manufacturers, including well-known brands such as Pringles and Pop-Tarts. The deal is valued at more than $29 billion, and Mars plans to pay $83.50 for each share of Kellanova stock.
In addition, the new owner will assume the company's net debt of $6 billion.
Mars, as one of the largest family-owned businesses in the world, with more than $50 billion in annual sales and more than 150,000 employees, is strengthening its position in the food market.
However, the deal could face antitrust hurdles. Competition watchdogs appointed by President Joe Biden's administration have been actively opposing large mergers and acquisitions, which could create difficulties in finalizing the deal. The Financial Times reports that.
Kellanova is a large international company specializing in food production. It is known for brands such as Pringles potato chips and Pop-Tarts cereal. Kellanova holds a leading position in the snacks and ready-to-eat breakfast market, offering a wide range of products demanded in different countries of the world. The company is one of the key players in the food industry, with high sales and a significant presence in the global market.
Earlier, the Russian Finance Minister called OFZ a reliable investment instrument. Fitch Ratings also downgraded Ukraine's credit rating to “limited default”.