Mars is exploring the acquisition of Kellanova, according to people familiar with the matter, says a Reuters story.
A deal would be one of the biggest ever in the packaged food sector, given Kellanova’s market value of about $27 billion including debt, and test the appetite of regulators to allow consolidation in the sector.
The Reuters story references sources who requested anonymity because it’s a confidential matter. The sources say there’s no certainty Kellanova will pursue a deal with Mars and that another company may also approach Kellanova.
