Mars, whose candy brands include M&M's and Snickers, is in advanced discussions to purchase snack-maker Kellanova (NYSE:K). A deal could happen imminently, assuming talks don't fall apart, according to a WSJ report late Sunday, which cited people familiar with the matter. Assuming a typical M&A premium, Kellanova (K) may be valued at about $30 billion. The WSJ report comes after Reuters earlier Sunday reported that Mars was considering a purchase of Kellanova (K), the maker of snacks such as Cheez-It, Pop-Tarts and Pringles. On the guidance front, Kellanova (K) boosted its organic sales guidance to 3.5% or higher and said it sees EPS of $3.65 to $3.75 vs. $3.62 consensus.

Source: Wall Street Journal August 05, 2024 05:22 UTC