Mars Announces Kellanova Deal: What This Means for K Stock

Privately held Mars is buying Kellanova (NYSE:K), the snacks division of cereal giant Kellogg's. The stock will be bought for $83.50 per share. Before the announcement, K stock was selling for$74.50 per share. It was about $80 before the market opened today. CNN said the all-cash deal was worth$29.5 billion, but The New York Times said it was worth $35.9 billion. The difference is mainly due to the$5 billion in long-term debt Kellanova had on its balance sheet at the end of June. Split and Sell Something ...