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Kellanova (NYSE:K) Stock Surges 14% Amid Market Turmoil: Mars Acquisition Talks Spark Investor Excitement
Breaking News: Mars Considers Buying Kellanova in Mega Food Sector Deal
Reports from multiple sources suggest that Mars is in discussions to acquire Kellanova, making it one of the biggest deals in the food industry. With a market capitalization of nearly $24.7 billion, this potential acquisition is making waves in the market.
The Wall Street Journal also confirms that Mars and Kellanova are in advanced talks, with a possible deal worth around $30 billion on the horizon. This news has investors buzzing with anticipation.
But Mars isn’t the only player eyeing Kellanova. Reports indicate that Mondolez (NYSE:MDLZ) and PepsiCo (NYSE:PEP) are also interested in acquiring the snack maker, adding further intrigue to the situation.
Bank of America Upgrades K Stock to “Buy”
Bank of America recently upgraded Kellanova stock to a “buy” rating, citing strong Q2 performance and potential sales growth in 2024. They believe the company’s advertising efforts and expansion into new markets will drive revenue, leading to a price target increase to $70.
With K stock already up 25% in the last five trading days and 27.65% year-to-date, investors are keeping a close eye on this potential acquisition and the company’s growth prospects.
Disclaimer: The author does not hold any positions in the securities mentioned. All opinions expressed are subject to the InvestorPlace.com Publishing Guidelines.
Disclaimer: The editor does not hold any positions in the securities mentioned.