Mars Inc., a privately held titan in the packaged food industry known for brands like Snickers and M&M's, is reportedly considering acquiring Kellanova, the company behind Pringles, according to sources cited by Reuters. Following this news, Kellanova's shares increased more than 21% in pre-market trading, reaching $76.86.
Kellanova, which became an independent entity after its spin-off from WK Kellogg Co. (KLG) last October, boasts a market value of approximately $27 billion, including its debt.
On Friday, Kellanova shares closed at $62.98, marking a 1.5% increase. Over the past year, the stock has fluctuated between $47.63 and $64.18.
