Mars in Talks to Buy Kellanova for $30B

Mars Inc. is in advanced discussions to acquire snack-maker Kellanova in a deal potentially valued at around $30 billion, making it one of the largest transactions in the packaged food sector this year. The acquisition would allow Mars to diversify its portfolio beyond its traditional candy brands like M&Ms and Snickers, expanding into the snacks market with Kellanova's products such as Cheez-It, Pringles, and Pop-Tarts. The news has caused Kellanova's shares to surge significantly, gaining as much as 22% in pre-market trading. Regulatory scrutiny is expected as the deal would further consolidate the sector, which has seen increased M&A activity due to inflation and changing consumer habits. Other potential suitors like Hershey and Mondelez may also express interest. Both companies have yet to confirm the acquisition talks formally.