How the $35.9B Mars Bid for Kellanova Stacks Up Among Food and Drinks Deals

Group 1 - Mars' $35.9 billion offer for Kellanova revitalizes the mergers and acquisitions market, marking the largest M&A deal of the year [1][2] - This transaction is the largest in the food sector since Heinz acquired Kraft Foods in 2015 and ranks as the third-largest in the food and beverage segment, excluding spin-offs [3][4] - The M&A activity in 2023 has seen a decline to the lowest levels in a decade, although the dollar value of global M&A is above last year's levels [4] Group 2 - The deal, if approved, will allow Mars to expand into the snacks space, combining two major players in the grocery aisle [8]