Mars Reportedly in Advanced Talks To Buy Pringles, Pop-Tarts Maker Kellanova

Kellanova (K) shares are jumping 19% successful premarket trading Monday connected a study that candy elephantine Mars is successful precocious talks to bargain nan shaper of Pop-Tarts and Pringles.

According to The Wall Street Journal, a woody could beryllium imminent and would worth Kellanova astatine astir $30 cardinal successful 1 of this year’s biggest M&A transactions.

Reuters was nan first to study connected nan imaginable deal.

Kellanova Was Spun Off From Kellogg Last Year

Kellanova was spun out of Kellogg past twelvemonth and is focused connected snacks and different foods, while WK Kellogg (KLG) houses nan accepted Kellogg cereal brands, specified arsenic Corn Flakes and Fruit Loops.

At nan marketplace adjacent Friday, Kellanova’s marketplace worth was astir $22 billion.

If nan woody is struck, it would people 1 of nan largest M&A deals of nan twelvemonth and biggest successful nan packaged foods assemblage ever. Last September, J.M. Smucker (SJM) agreed to buy Hostess Brands (TWNK), nan shaper of Twinkies, for $5.6 billion, including $900 cardinal successful debt.

Last week, Kellanova reported better-than-expected second-quarter results and raised its guidance, boosted by North and Latin American demand.

Kellanova shares were up 19% to $75.00 astir 30 minutes earlier nan opening doorbell and person surged astir 29% since Wednesday's close.