Mars will pay $83.50 (€75.91) per share in Kellanova, Reuters reports, in an all-cash transaction.
Kellanova and Mars did not respond to the agency's requests for comment.
When a giant takes on a giant….
In early August, Reuters reported that Mars was considering acquiring Kellanova. The deal would be Mars’ largest ever, surpassing its $23 billion (€20.1 billion) takeover of Wrigley in 2008.
Mars’ planned acquisition of Kellanov is likely to face scrutiny from global antitrust regulators.
Kellanova is an American corporation that produces snacks, cereals, and chips, among other things. Its most famous brand is Kellogg's cereal.
The Mars Group produces, among others, Mars, Snickers, Milky Way, Bounty, Twix bars, M&M's and Skittles dragees, as well as Orbit and Winterfresh chewing gum.
