Chocolate giant Mars to acquire Kellanova, maker of Cheez-Its and Pringles in $29B deal

Chocolate giant Mars announced that it was acquiring rival snack company Kellanova in a deal valued at nearly $30 billion — the largest ever acquisition in the packaged food industry. The privately held maker of popular chocolate bars including Snickers, M&Ms and Milky Way said it has agreed to pay $83.50 a share — or a 33% premium to its closing price on Aug. 2 — for Kellanova in an all-cash deal, according to The Wall Street Journal. Kellanova, whose portfolio of brands includes Cheez-It, Pringles and Egg ...