Mars, the family-owned food giant known for M&M's and Snickers, is considering acquiring Kellanova, the maker of Cheez-It and Pringles, Reuters reports.
This potential acquisition, valued at about $27 billion including debt, would be significant for the packaged food industry and test regulatory approval for such a large consolidation. Kellanova's stock has risen 20% since its split from WK Kellogg Co. last October but still trades at a discount compared to peers like Hershey and Mondelez, Reuters noted in its article. There is no certainty of a deal, and other suitors may also express interest.
