U.S. Stock Market News | Reports of Mars planning to acquire Kellanova, causing the latter's stock price to rise by over 14%
On Monday, Kellanova's stock price rose, with the stock up over 14% to $72.075 at the time of publication. Insiders revealed that the globally renowned family-owned packaged food giant, Mars, is currently exploring the possibility of acquiring Kellanova. TD Cowen analyst Robert Moskow believes that Kellanova's many popular snack brands will complement Mars' products very well and help Mars expand its scale in the international market. As for the entire packaged food industry, potential mergers are believed to trigger another round of consolidation, which could drive up the valuation of the entire industry
According to the Zhitong Finance and Economics APP, on Monday, Kellanova (K.US) stock price rose, with the stock up over 14% to $72.075 at the time of writing. Insiders revealed that the globally renowned family-owned packaged food giant, Mars, is currently exploring the possibility of acquiring Kellanova. TD Cowen analyst Robert Moskow believes that Kellanova's many popular snack brands will complement Mars' products very well and help Mars expand its presence in the international market. As for the entire packaged food industry, potential mergers are seen as triggering another round of consolidation, which could drive up the industry's overall valuation