Kellanova unlikely to see other bidders after agreeing to Mars deal – CNBC

Kellanova (NYSE:K) is unlikely to see another bidder after it agreed to a $36 billion sale to Mars.

“Hershey at least was trying to see if they could mount something, I don’t want to go too far on that, but it doesn’t appear there is going to be any other bid here,” CNBC’s David Faber said on Wednesday.

The only potential antitrust overlap for the combination of Mars and Kellanova (K) is snack bars, where the combined company will control more than a quarter of the market, according to Faber.

Shares of Kellanova (K) rose 7.4% in premarket trading.

Pepsi (PEP), General Mills (GIS) and Mondelez (MDLZ) have also been considered as potential buyers of Kellanova (K), according to analysts.