Mars Inc. has agreed to acquire Kellanova for nearly $36 billion, merging two significant food companies in one of the year's largest deals. Mars will pay more than $83 per share in cash, known for products like Pringles and Eggo waffles. Kellanova's stock rose nearly 8% in premarket trading following the announcement. The acquisition comes as the packaged-food industry faces declining volumes and slowing growth. Kellanova has outperformed competitors since spinning off its cereal business. Mars aims to diversify its portfolio and expand internationally through the deal.
