By Foo Yun Chee BRUSSELS (Reuters) -Candy and snacks giant Mars' $36 billion bid to acquire Pringles maker Kellanova is set to clear a major hurdle by winning unconditional European Union antitrust
Mars Poised for EU Approval of $36 Billion Kellanova Acquisition
Overview of the Mars and Kellanova Deal
By Foo Yun Chee
Implications for the Snacking Industry
BRUSSELS (Reuters) -Candy and snacks giant Mars' $36 billion bid to acquire Pringles maker Kellanova is set to clear a major hurdle by winning unconditional European Union antitrust approval, three people with direct knowledge of the matter said.
EU Commission's Findings
The deal, among the biggest in the sector, would bring under one roof brands ranging from M&Ms, Snickers and Whiskas cat food to Pringles crisps, Pop-Tarts and Kellogg's cereals. It has already secured a green light without any conditions from U.S. authorities.
Market Share Analysis
The European Commission, which warned in June that the deal could lead to price hikes and may boost Mars' negotiating power with retailers, has subsequently found insufficient legal grounds to demand concessions, the sources said.
The Commission, the EU's competition enforcer, declined to comment, as did Mars and Kellanova. An EU decision on the deal is due by December 19.
A combined Mars and Kellanova would account for roughly 12% of the U.S. snacking and candy industry, according to market share data from NielsenIQ.
(Reporting by Foo Yun Chee; Editing by Joe Bavier)
