Mars Candy Bars To Buy Cheez-It Maker Kellanova In "Largest Package-Food Deal In Decade"

One of the largest food industry mega-deals in nearly a decade was unveiled as snack giant Mars announced a deal to purchase food maker Kellanova for nearly $30 billion. This marks one of the biggest M&A deals this year, second to Capital One Financial's agreement to purchase Discover Financial Services for $35 billion in February. Family-owned Mars agreed to pay $83.50 per share in cash for all outstanding equity of Kellanova, representing a total enterprise value of $35.9 billion. "All of Kellanova's brands, assets and operations, including its snacking brands,...