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Food giant Mars announced on Wednesday that it would acquire Kelanova, the maker of Pringles, in a deal valued at approximately $36 billion. A press release stated: “Mars, Inc. and Kelanova have announced that they are… in the final stages of an agreement whereby “Mars” will acquire “Kelanova” (the famous company).
Kelanova’s total value is $35.9 billion, and Mars will pay $83.5 for each Kelanova share, which is 44% higher than Kelanova’s average share price over the past 30 days.
The transaction includes all of Kelanova’s brands and assets, and to complete this status, it still needs approval from the company’s shareholders and regulators, and the two companies hope to complete the transaction in the first half of 2025.
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