Offers 83.50 usd/Kellanova share (Il Sole 24 Ore Radiocor) - New York, 14 Aug - Mars, a US supplier of pet care, snacking and food, said that it has entered into a definitive agreement to acquire Kellanova for 83.50 dollars per share in cash, for a total consideration of 35.9 billion dollars, including assumed net leverage.

The total consideration represents an acquisition multiple of 16.4x last 12 month adjusted EBITDA as of June 29.

Kellanova is home to snacking brands including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain and RXBAR, as well as food brands including Kellogg's (international), Eggo and MorningStar Farms.

AAA-Web

(RADIOCOR) 14-08-24 13:42:15 (0315) 5 NNNN