Mars nearing deal to acquire Kellanova
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 5 August 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, August 5th. I'm Julie Morgan. |
| 0:12.0 | Mars is interested in Kalanova. August 5th, I'm Julie Morgan. |
| 0:12.7 | Mars is interested in Colanova. |
| 0:15.0 | Coca-Cola is hit with billions in back taxes, |
| 0:18.2 | and Chevron is leaving California. |
| 0:21.4 | Mars whose candy brands include M&M's and Snickers is in advanced discussions to purchase |
| 0:27.0 | snack maker Kulinova. |
| 0:28.9 | According to a Wall Street Journal report late Sunday which cited people familiar with the matter. |
| 0:34.0 | A deal could happen imminently assuming talks don't fall apart. |
| 0:38.0 | Assuming a typical M&A premium, Kalinova may be valued at about $30 billion. |
| 0:43.8 | Kalinova has a market cap of about $22 billion. |
| 0:47.3 | The Wall Street Journal report comes after Reuters earlier Sunday reported that |
| 0:51.9 | Mars was considering a purchase of Kelanova. |
| 0:54.8 | Kelanova was spun off from Kellogg last year. |
| 0:58.0 | A potential Kelanova deal comes after it was reported in early May that Tom's capital investment management had taken a significant stake in the firm. |
| 1:07.0 | Pre-market Kalinova is up 6.3%. |
| 1:11.0 | Coca-Cola Company has been hit with $6 billion. percent. The U.S. Tax Court entered this decision on August 2nd, and it reflects a liability of approximately $2.7 billion. |
| 1:27.8 | With applicable interest, the total amount is anticipated to be approximately $6 billion. |
| 1:33.4 | Coca-Cola has 90 days to file an appeal. |
| 1:36.7 | The company said in a statement that it will begin |
| 1:39.3 | the appellate process, which includes paying the agreed-upon liability and interest to the IRS. |
... |
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